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Enjoy lower mortgage interest rate
Home ownership is the top-most priority for many Hong Kong people, as such, gathering information of mortgage plans from different banks are usually critical when considering mortgage loans. How should we choose the most suitable and most favorable one among myriad of plans?
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Take advantage of lower interest rate of HIBOR Mortgage Scheme
To enjoy a lower mortgage interest rate, you can choose HIBOR Mortgage Scheme ("the scheme") which uses the Hong Kong Interbank Offered Rate (HIBOR) as the mortgage interest rate basis. Compared with the other plans using the Hong Kong Dollar Prime Lending Rate (Prime), the scheme may offer lower mortgage interest rate that follows more closely the market interest rate movements and hence makes repayment easier.
A host of interest period options
Any home mortgage, be it for a newly purchased property or refinancing, can benefit from the scheme provided by Bank of China (Hong Kong). Interest periods of 1, 3, 6 or 12 months at HIBOR base are available. If you anticipate that the interest rate will move upward, you can choose a longer interest period. This can help avoid the impact brought about by increasing interest rate during your selected interest period. If you anticipate otherwise, you may choose a shorter interest period and take advantage of the possible lower interest rate for the time ahead.
Capped interest rate allows better financial planning
Granted, everybody worries about the soaring market interest rate. A HIBOR mortgage scheme with a capped interest rate will give you peace of mind. Upon renewal of the plan, our system will automatically compare the prevailing HIBOR interest rate and the pre-set capped mortgage interest rate. The lower one will be applied for the coming interest period so you can have better financial planning.
Choose mortgage plan according to ability
Owning a home is always a heavy financial burden for Hong Kong people. The scheme offers a loan amount of up to 95%1 of the appraised value or purchase price of the property (whichever is lower) with a repayment tenor up to 30 years. Such an arrangement allows owners the flexibility to select the most suitable mortgage plan according to their financial ability. Repayments are therefore made easier.
Exclusive mortgage offers for Wealth Management customers:
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Preferential mortgage interest rate and cash rebate |
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Preferential refinancing solicitor's fee2 |
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20% discount for the first policy year premium and premium waiver for the second policy year on Fire Insurance enrolled through BOCHK3 |
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| Remarks: |
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If the loan-to-value ratio is over 70%, customers are required to apply for either "Mortgage Insurance Programme" or "Smart Easy" Top Up Mortgage. |
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The sum of preferential refinancing solicitor's fee is HK$4,500, which only includes preparation of the mortgage on the property in favour of Bank of China (Hong Kong) Limited ("the Bank") and discharge of the existing first mortgage (excluding disbursements), should be handled by designated solicitors' firm. The sum of HK$4,500 will be deducted from the cash rebate of the mortgage loan for settlement of the solicitor's fee through the Bank. For details, please contact our staff. |
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The fire insurance plan is underwritten by Bank of China Group Insurance Company Limited ("BOCG Insurance"). The Bank is one of the agents of BOCG Insurance. Details of coverage are subject to the terms and conditions stipulated in the policy issued by BOCG Insurance. |
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| Terms and Conditions: |
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For promotional details, please contact our staff. |
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The above information is for reference only. The Bank may in its absolute discretion approve or reject any application for credit facilities and mortgage and decline any application without assigning any reason. The credit facilities and mortgage shall be subject to the terms and conditions set out in the facility letter and mortgage documents. |
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In case of any disputes, the decision of the Bank shall be final. |
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The Bank reserves the right to amend or withhold the above offer, relevant terms and conditions of the above offers at its discretion without prior notice. |
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