The Hong Kong Mortgage Corporation (HKMC) has recently introduced a pilot scheme for fixed-rate mortgages for 10, 15 and 20 years, with rates fixed at 2.55 per cent, 2.65 per cent and 2.75 per cent, respectively.
The maximum loan amount caps at HK$10 million (US$1.3 million). At the end of the fixed-rate period, the borrower may either re-fix the mortgage rate under the scheme, or convert to a floating-rate loan, which is equivalent to the prime rate minus 2.3 per cent. With the current prime…
Source : South China Morning Post
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