Usually, banks provide mortgages with a long repayment period and low-interest rate. But banks require the applicants earning a certain level of salary and pass the stress testing, the approval procedures are more complicated and strict. On the other hand, Finance companies usually provide mortgages with shorter repayment period and higher interest rate but the approval procedures are relatively loose.
Articles in this section
- How long is the repayment tenor?
- What are the differences between “additional borrowing” and “second mortgage”?
- Should I choose the flexible rate or the fixed rate mortgage plan?
- How to borrow Mortgage up to 90% LTV?
- What are the different types of mortgages in Hong Kong?
- What is the maximum loan amount that I can borrow?
- How is the Stress Test assessed?
- Should I choose the HIBOR plan or the prime plan?
- How to apply for a mortgage?
- Is MoneyHero.com.hk a mortgage referral company?