Under the current basis point, the monthly mortgage payment cannot exceed 50% of the borrower's household income. However, in stress-testing mortgage applicants? repayment ability, banks are required to assume a mortgage rate increase of 200 basis points, and the resulted monthly mortgage payment cannot exceed 60% of the borrower's household income.
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?