News Hong Kong Property & Finance

Foreign Currency Mortgage

ORIGINAL POST
Posted by kellie.i 16 yrs ago
Is anybody having problems with their foreign currency mortgage? We were misled when taking our mortgage out a year ago and are now along with many others in a very bad position because of our loan to value situation.


I would be eager to hear of any one else in a similar position

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COMMENTS
LAH 16 yrs ago
The problem is that even if you can service the mortgage if the LTV has been hit with a switch or currency drop and you can not provide a top up or extra security they are showing no mercy. The banks will only allow there survyors to value an LTV on an existing mortgage and you can be sure that the property will be re valued very cautiously which may indeed increase the problem: it is really a big mess for many.

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