Mortgages

You will normally need to provide the following documents when you submit your mortgage application. 

For application under individual name(s)

• Hong Kong ID Cards or passports of all borrowers (and guarantors, if any)
• For a newly purchased property:
  -    Provisional or Formal Sale & Purchase Agreement
• For refinancing an existing mortgage against a property you already own:
  -    repayment records from your existing mortgagee bank showing the last three month's payments, AND;
  -    the repayment schedule for your existing mortgage, AND
  -    address proof for self-occupancy, if applicable
• Bank statements showing your salary deposits for the last three months
• Proof of your employment, which could be:
  -    your latest tax demand note, OR;
  -    your latest employer's tax return note, OR;
  -    other income proof documents issued by your employer.

For an application under the name of a shell company

• Hong Kong ID Cards or passports of all guarantors
• For a newly purchased property:
  -    Provisional or Formal Sale & Purchase Agreement
• For refinancing an existing mortgage against a property you already own:
  -    repayment records from your existing mortgage lender showing the last three months' payments,  AND;
  -    the repayment schedule for your existing mortgage, AND
  -    address proof for self-occupancy, if applicable
• Bank statements showing each guarantor's salary deposits for the last three months
• Proof of each guarantor's employment, which could be:
  -    the latest tax demand note, OR;
  -    the latest employer's tax return note, OR;
  -    other income proof documents issued by the guarantor's employer.
• Business Registration Certificate or Certificate of Incorporation of the shell company
• Minutes of meeting approving the mortgage application and indicating mortgagee bank, property address and loan amount

Is there any charge for a mortgage application?

No fee is charged when you apply for a mortgage loan. However, if you have accepted our offer and do not draw down the loan within the period stated in the offer letter, we will charge a cancellation fee of 0.15% of the loan amount.

How much can I borrow?

You may use the Instant Mortgage Assessment to understand how much you will be able to borrow. This calculation is for illustration and your reference only.

Does HSBC accept mortgage application referrals from intermediaries?

We only accept mortgage application referrals from our appointed mortgage referral brokers, including:

• Centaline Mortgage Broker Limited
  
• mReferral Mortgage Brokerage Services
• Ricacorp Mortgage Agency Limited
• Honour Finance Co Ltd
  
• U Mortgage Limited
• Hong Kong Real Estate Agencies General Association
• Cybernetics 1 Limited
• Many Wells Property Agent Limited

For enquiries of the list of mortgage referral brokers, please call our Mortgage enquiry hotline at 2748 8080, press “4”for mortgage services.

Can I choose my own solicitors' firm?

Yes, you can choose a solicitors' firm to advise you on the mortgage. 

However, if you would like the same firm of solicitors to act for both you and the Bank, the firm you have chosen must be agreed by the Bank, otherwise they will not be able to act for the Bank as well, and we will need to appoint another firm of solicitors to act for the Bank. 

Please also note that you need to bear the legal cost for the mortgage transaction. If there are two different firms of solicitors acting for you and for the Bank, you will need to bear the legal costs of both firms of solicitors. Each firm may charge extra fees for the additional work in reviewing the other firm’s documentation and accordingly, the legal cost for such arrangement may be higher than using just one firm of solicitors agreed by the Bank to represent both parties.

Do I have the choice on the solicitors’ firm to act for the Bank?

Yes, you can choose the solicitors’ firm to act for the Bank but this firm must be approved by us.

Do I need to arrange fire insurance for the mortgaged property?

Yes, it is your responsibility to arrange fire insurance against fire risk and allied perils. Alternatively, if there may be a master policy already in place for your property which is acceptable by us, you can adopt the master policy instead of taking out a separate fire insurance. Please check with your estate's management company to find out more about the master policy for your property.

Can I choose my own insurance company to arrange fire insurance?

Yes, you can choose the fire insurance company which is agreed by us or your selected insurance company that meets the criteria of the Bank from time to time. Please contact HSBC branch for more details.

Can I choose my own fire insurance provider?

Yes, you can choose your own fire insurance provider agreed by us.

What are the options for repaying my mortgage?

Mortgage repayment options include:

• monthly or fortnightly repayment frequency
  
• fixed instalment amount or fixed loan tenure
• straight-line or step-up repayments

Contact HSBC branch for details of the options available for your mortgage.

Can I change my mortgage repayments?

To change the amount or frequency of your mortgage repayments, please contact HSBC branch. There may be a charge for making this change: see the prevailing Bank tariff guide for HSBC Retail Banking and Wealth Management Customers for details.

Can I change to a different mortgage?

To change your mortgage plan, contact HSBC branch to check your eligibility for other mortgage plans. There may be a charge for making this change: see the prevailing Bank tariff guide for HSBC Retail Banking and Wealth Management Customers. for details.

Can I repay some or all of my mortgage early?

To arrange early repayment of your mortgage, contact HSBC branch. There may be a charge for early repayment: see the latest Bank tariff guide for HSBC Retail Banking and Wealth Management Customers and your mortgage facility letter for details. 

If the charges in the Bank tariff guide are different from the mortgage facility letter, the mortgage facility letter will prevail.

Will I receive any eStatements for my mortgage account?

You can register to receive eStatements and eAdvice for your mortgage accounts in HSBC Online Banking.

Are there any brief highlights to note if I am a non-Hong Kong resident going to apply for a mortgage?

Consider it if … 

• you are not residing in Hong Kong while you purchase a Hong Kong property
• you have reserved extra fund for higher downpayment as the Loan-to-Value ratio may be lowered if your income is mainly derived from outside Hong Kong
• you are aware of and have prepared sufficient fund for additional government tax (including stamp duty) payment and/or other taxation arrangement (if applicable) which applies to non-resident buying a Hong Kong property
• you understand the potential risk of buying a Hong Kong property while you are not residing in Hong Kong, such as government tax, housing policy and/or currency fluctuation risk

Not consider it if …

• you have not prepared extra fund for downpayment when the Loan-to-Value ratio may be lowered due to your income mainly derived from outside Hong Kong
• you have not arranged fund for additional government tax (including stamp duty) payment and/or other taxation arrangement (if applicable) which applies to non-resident buying a Hong Kong property
• you are not willing to take the potentially higher risk of buying a Hong Kong property while you are not residing in Hong Kong, such as government tax, housing policy and/or currency fluctuation risk

Highlights for your best interest

• You should be aware of the potential risk if you, as a non-Hong Kong resident, apply for a mortgage over a property locating in Hong Kong, for example, government tax and housing policy from time to time applicable to non-Hong Kong residents buying a Hong Kong property, and the lowering of Loan-to-Value ratio for mortgage loan. You should consider the currency fluctuation risk, if the currency of the loan is different to the currency of your income or you need to make cross-border loan repayments
• We will assess your application by making reference to credit report from a credit reference agency "TransUnion Limited", your income proof, other information submitted where applicable as well as the prevailing regulatory requirements in Hong Kong
• To ensure your understanding on your obligation and commitment during the mortgage period, please note and agree all terms and conditions stated in the mortgage loan facility letter including but not limited to the mortgage interest rates, frequency of payment, repayment amount, number of installment and full/partial prepayment term
• Whenever you face financial difficulty in mortgage repayment, an overdue/default interest, on top of normal interest, will be levied. If your payment cannot be resumed to normal, we reserve the right to repossess your property to settle the outstanding mortgage loan amount
• To protect your property from depreciation caused by structural damage resulting from disaster during the mortgage loan period, you are required to arrange fire insurance with an insurance company acceptable by us to provide insurance coverage to reduce the potential loss
• To minimize any unfortunate events affecting your home contents and your ability to repay the mortgage, you could contact us to understand more on related protection