First time homebuyers in Hong Kong have little choice under existing mortgage rules for mass flats unless they settle for old, tiny apartments in far off areas.
Under the current home financing scheme, first time buyers only can receive loan-to-value ratio of 90 per cent for flats that cost HK$4 million (US$511,000) or less through the Hong Kong Mortgage Corporation insurance scheme.
But as prices break one record after another, the availability in this range has declined sharply. In Tuen Mun,…
Source : South China Morning Post
Read more…Relaxing cap in Hong Kong’s mortgage scheme will offer more choices to first-time buyers















