Mortgage title as collateral for 2nd flat

This would depend on how much your current property is worth, has it increased or decreased in value. The bank would also look at how much is left payable on your current mortgage, the amount which was taken out and the value you brought the property for.


You can try asking the bank to re-mortgage your current property to obtain extra finance to show that you have money to pay for the second property, but be careful of any penalties that might be incurred with some banks. You can also try taking out a second mortgage as long as you can show that you can cover the additional outgoings.


Weir & Associates

Solicitors & Notaries

16th Floor Tak Shing House

20 Des Voeux Road Central

Central

Hong Kong

Tel : 2526-1767

Fax : 2868-3568

Email : WeirLaw@HongKongLaw.com

www.HongKongLaw.com/weirlaw