{"id":107351,"date":"2019-05-22T06:00:08","date_gmt":"2019-05-21T23:00:08","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/tightened-mortgage-lending-has-pushed-hongkongers-into-arms-of-cash-rich-developers-and-their-expensive-property-loans\/"},"modified":"2019-05-22T07:07:00","modified_gmt":"2019-05-22T00:07:00","slug":"tightened-mortgage-lending-has-pushed-hongkongers-into-arms-of-cash-rich-developers-and-their-expensive-property-loans","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tightened-mortgage-lending-has-pushed-hongkongers-into-arms-of-cash-rich-developers-and-their-expensive-property-loans\/","title":{"rendered":"Tightened mortgage lending has pushed Hongkongers into arms of cash-rich developers and their expensive property loans"},"content":{"rendered":"


\nSqueezed out of owning an old home in the city by tightened mortgage rules, Hongkongers are increasingly buying smaller but more expensive new apartments. Unable to apply for an adequate mortgage from banks, they are turning to developers, who provide loans amounting to as much as 90 per cent of a property\u2019s value, no matter what the cost.Penny Li, 35, a finance professional, ended up buying a smaller and more expensive new apartment as she could not get a mortgage for an old home in a better\u2026
\n
\nSource : South China Morning Post
\nRead more…Tightened mortgage lending has pushed Hongkongers into arms of cash-rich developers and their expensive property loans<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Squeezed out of owning an old home in the city by tightened mortgage rules, Hongkongers...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-107351","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rVt","jetpack-related-posts":[{"id":114974,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hongkongers-under-siege-as-banks-turn-wary-on-mortgage-loans-with-jobs-in-virus-hit-sectors-on-the-line\/","url_meta":{"origin":107351,"position":0},"title":"Hongkongers under siege as banks turn wary on mortgage loans with jobs in virus-hit sectors on the line","date":"March 18, 2020","format":false,"excerpt":"\r Hongkongers are facing a crunch time as the coronavirus pandemic induced the deepest labour-market retrenchment since 2011, making lenders wary of lending to people in the most vulnerable sectors.Some 134,100 people lost their jobs last month, according to government data, driving the unemployment rate up for a fifth straight\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109043,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/heres-what-hongkongers-need-to-know-about-cash-rebates-on-mortgage-transfers\/","url_meta":{"origin":107351,"position":1},"title":"Here\u2019s what Hongkongers need to know about cash rebates on mortgage transfers","date":"July 16, 2019","format":false,"excerpt":"\r HSBC\u2019s abrupt and drastic cut in cash rebate on mortgage refinancing from 2.1 per cent to 1.5 per cent last month startled the mortgage industry.\r\rAssuming an average loan size of HK$4 million (US$511,000), the borrower would now get HK$24,000 less cash rebate for refinancing at HSBC.\r\rRefinancing has grown by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91368,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hongkongers-will-feel-the-squeeze-as-mortgage-rates-gain-momentum\/","url_meta":{"origin":107351,"position":2},"title":"Hongkongers will feel the squeeze as mortgage rates gain momentum","date":"June 14, 2018","format":false,"excerpt":"\r The monthly mortgage repayment of homeowners in Hong Kong is expected to rise to 70 per cent of their monthly income by the end of this year \u2013 the highest level in nearly two decades \u2013 as mortgage rates kick upwards and home prices show no signs of abating,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131110,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/weaker-pound-proves-a-draw-for-hongkongers-buying-uk-homes-though-stricter-energy-saving-requirements-may-drive-up-costs\/","url_meta":{"origin":107351,"position":3},"title":"Weaker pound proves a draw for Hongkongers buying UK homes, though stricter energy saving requirements may drive up costs","date":"October 23, 2022","format":false,"excerpt":"\r UK-based developers are ramping up sales launches and marketing promotions in Hong Kong as the weakened pound makes British property more attractive.\r \r Source : South China Morning Post\r Read more...Weaker pound proves a draw for Hongkongers buying UK homes, though stricter energy saving requirements may drive up costs","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18956,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/are-hk-developers-being-too-generous-with-mortgages\/","url_meta":{"origin":107351,"position":4},"title":"Are HK developers being too generous with mortgages?","date":"July 7, 2016","format":false,"excerpt":"\r Buyers are being tempted by 120 percent mortgages Another day, another dollar. Image credit: Krystal T (Flickr) Non-banking lenders are getting a tad too generous. This was the view of the Hong Kong Monetary Authority regarding the phenomenon of high mortgage loan-to-value ratios being bandied by property developers recently\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":142708,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developers-urge-government-to-remove-all-property-cooling-measures-make-hongkongers-happy\/","url_meta":{"origin":107351,"position":5},"title":"Hong Kong developers urge government to remove all property cooling measures, make Hongkongers \u2018happy\u2019","date":"February 21, 2024","format":false,"excerpt":"\r Hong Kong developers have joined a chorus urging the government to remove all the remaining cooling measures to revive the property sector.\r \r Source : South China Morning Post\r Read more...Hong Kong developers urge government to remove all property cooling measures, make Hongkongers \u2018happy\u2019","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/107351"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=107351"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/107351\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=107351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=107351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=107351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}