Hong Kong Mortgage Broker?

I went to mreferral at first too - I talked to Macky Fung there. They seemed pretty good in that you can organise a prelimiary meeting with them to talk through your needs and find out how much you can afford to borrow. Then when we were looking for apartments and needed bank valuations one email or phone call to them resulted in bank valuations from 3 or 4 banks as well as how much they were willing to lend percentage wise.


Only reason I didn't use them in the end is that I had to use Standard Chartered (was getting 95% and needed to do it quickly - they can sort out the insurance needed and no need to go through HKMC).


If you're not looking for more than 70% or you have plenty of time and not worrird about the extra time the HKMC may take, then I would recommend them. It costs you nothing but it saves on a lot of work.

To Ken A: I'm wondering what you're referring to when you say that Standard Chartered was able to sort out the insurance without going through HKMC? When I enquired to SCB, they said that they would need to go through the HKMC approval which would take 3-4 weeks?

"SC do the second mortgage on their own, no need to go through HKMC, but you still need to pay the 3.98% insurance premium to them as required by the Government.


Ken A was right but SC policy changed starting mid-April. They are over loaded with applications, quota matched, no longer provide 95% mortgage to every eligible applicants, is now considering the gap between the valuation and the transaction price, if they are too far apart, they lower the percentage to 80-85% or decline the application for second mortgage."


Anyone have any recent experience with SCB regarding 95% mortgages and the time it takes them to approve them? The person I am dealing with there says that he thinks the approval can be done in about a week, but I am wondering whether he doesn't know that approval times are taking longer, or because he is equivalent of a salesperson, he is just saying anything?