News Hong Kong Property & Finance

House secured loan where ?

ORIGINAL POST
Posted by running 11 yrs ago
Just wonder if anyone have any recommendation on secured loan in Hong Kong ? i.e. what bank and what rate ? How easily it is for me to sell the house and than pay off the loan.

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COMMENTS
Loyd Grossman is Miss Venezuela 11 yrs ago
Are you talking about remortgaging your HK flat?

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running 11 yrs ago
Yes seems I have to do second mortgage. So far looking at UAF. 18%.


Do you know if borrowing from them will affect future personal credit rating (if I don't skip any payment). UAF say no. Another bank say yes.

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OffThePeak 11 yrs ago
Wow.

Would anyone really pay 18% on a property-secured loan?

Why not just remortgage for a higher amount?

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elsdon 11 yrs ago
probably got denied.. is he an outlier?

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OffThePeak 11 yrs ago
Our bank (BofC) seems quite willing to lend, when asked

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traineeinvestor 11 yrs ago
Unless it was a life threatening emergency, I would not be paying 18% (+ fees and legal expenses) on a loan.


Borrowing does affect your credit score even if you keep all the payments.

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running 11 yrs ago
I work freelance so no income proof.

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