financing village house property purchase

Posted by cre8t (98 days ago)

We are considering purchasing a village house. Only 85% mortgage on valuation, and valuations much lower than price eg one example firm price $21 mio, valuation $14 mio. Have used mreferral as recommended on this site.

Besides mortgage, what other means of financing are available? Would be locking for additional $2-4 mio, but any amount would help.

Thanks for your advice.

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Tags mortgage

Posted by girlie (96 days ago)

As long as your total debt doesn't exceed 60% of your monthly income, you're allowed to borrow on top of your mortgage.
You can get a couple of personal loans, maximum is 6 x your monthly salary. Take note, the interest rate is 11% at the moment.
Or you can approach Inchroy Credit Corporation. I believe they will lend as much as 100%. You will need to have a collateral for the loan, though(ie. properties abroad under your name).

Posted by dadda (46 days ago)

cre8t. how did you go?

we are also looking at buying a village house in Sai Kung and the deposit will be tight