Buying an apt in HK, first-time homebuyer

Hi,

I am a complete novice at home-ownership.


I have been renting for ages for a number reasons but I am getting tired of renting/landlords. So, I am thinking to take the home-ownership plunge in HK on a small flat for about 2million HKD.


Questions:


1) I do not have permanent residency (but should be getting it in about 20 months), does this adversely affect my chances of getting a home loan from a local bank?


2) Do banks have special requirements for non-permanent residents (e.g. higher income requirements, collateral)?


3) I have been told that it is the norm to put down 30-35%. Can one negotiate a lower down payment, even if one does not have permanent residency?


Sorry if my questions seem naive. I have just started to explore this option and don't know much.


Thanks,

3)

I've justgot a 95% loan from the Bank of China, plus they will lend the MIP on top of that. They also valued the property at the contract price.