Posted by
uglybetty1
16 yrs ago
The village house In sai kung ain't cheap . Top floor with top selling for 3 M.
bank only offer 70 % mortgage . That's mean U need 1 M cash to get one floor .
SO if u want to get a whole block u need at least 3 M cash .
does Anyone know those lux Houses in Sai kung . (I m talking about 9-40 M for whole block )
will the back still consider they are village house? and will the back offer up to 90 % mortgage ?
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Not all the bank will offer the mortgage . IS better to ask the property agent .
"Don't even ask how ridiculous this rule or its interpretations are.."
People are free to ask question and look for advise here in the forums . As long as ppl want to know about the village house rule and its interpretations are and people have the answer .
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cd
16 yrs ago
I've know people get 90 % on village houses, even a 100% in a couple of cases, usually with a top up loan from a seperate company.
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cd
16 yrs ago
basically they got a 70 or 90 % mortgage from one company, then go to another company for a loan for the further 30% or 10%.
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so is a second mortgage . DO u know what company did they use ?
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I wrote to an agency last week asking about the mortgage . they told me I can only get 50 % -60 % . Since u can up to 85 % . I m less worry but still need at least 800 K to start with .
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TNO
16 yrs ago
Hi CD, Do you have a contact for the 90% loan scenario? We are not having much luck above the 70% ceiling. I have been told the mortgage supported by HKMC must not be more than 5 million ie that would be a house sold at $6 million so that the mortgage would be $4.2 mio (70%) and then HMC would provide only $800,000. All advice appreciated.
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The banks will at best give you 70% (Try CiticKawa, Winghang,etc). You could get personal loan from HSBC (500-600K) o higher from Citic, etc. Hence if the property is 5m, 3.5m will be from the bank, you could get a large sum of the rest as personal loan (Say 2 banks, provided your salary can hold).
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