Property News · May 9, 2017

Hong Kong homebuyers turn to finance companies as banks tighten mortgage lending


Buyers of new flats seeking to minimise their down payments are increasingly choosing home loans from finance companies, which are beyond the reach of the banking regulator, according to a survey.
Centaline Property Agency found that nearly 18 per cent, or HK$2.6 billion, of the estimated HK$14.7 billion in approved mortgage loans for new flats due to be delivered in 2018 came from finance firms rather than banks. That compared with 16.4 per cent for new developments scheduled for completion in…

Source : South China Morning Post
Read more…Hong Kong homebuyers turn to finance companies as banks tighten mortgage lending

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