HEALY
I have to echo 404's currency concerns. But it is quite appealing to be paying 3.5% vs 9.0% in OZ. So caveat emptor.
Should you decide to go down the refinance course, there are many banks that do it. Some have a presence here, some do not. You can use NAB asia, CBA asia, WBC asia, ANZ asia, St George, Lloyds TSB etc or you can go through a mortgage originator will cost you money for doing what you could have done yourself. Most of the aussie banks I have listed are asian subsidiaries of their Australian based parent bank. You will find that they have 'chinese walls' seperating them and so you are effectively operating with a totally seperate bank - don't expect them to know how much cash you have in their aussie bank branch. Most of these banks will let you borrow (as an Aussie asset is involved) AUD, HKD or USD. I think everyone has stopped lending on the JPY due to perceived risks in the carry trade.
So, to keep it simple for us pilots, you approach any of the banks listed, ensure you have about 25-30% equity and then refinance. Your cost of finance is quoted as "cost of funds plus margin". The margin is the banks revenue and would be approx 1.5% for smaller loan. The cost of funds is what the bank is charged for obtaining its funds for you. FOr that, just go to the 3rd or 5th last page of the SCMP and you will see some tables at the top of that page with headings of HIBOR, LIBOR, SIBOR. HIBOR stands for Hong Kong interbank offer rate - the amount banks charge each other for borrowing money. There will be entries for overnight, weekly, 1 month, 2month etc. You will find most banks dealing with mortgages tend to use 3month but that isn't a given. The current rate is about 2.3% but it has been as high as 10% 8 years ago and as low as .15% 4 years ago.
So if you borrowed in HKD they would switch your aussie loan at current exchange rate (hence 404's warning) and then your interest rate(for 3 month) is 3mth HIBOR rate of say 2.3% plus bank margin of 1.5% and you end up with a total bill of 3.8%(Annual rate). This is paid in arrears and interest only. Unlike Australian interest only loans, there is no restriction on you paying principal off on any payments you wish as long as you give them 2weeks notice of the intent.
The SIBOR and LIBOR tables relate to interbank offer rates in SIngapore and London and cover a greater range of currencies. So if you wish to take out an NZD or CHF or GBP or EUR loan you simply find the 3month SIBOR/LIBOR rate in the currency you want, add your 1.5% and thats your knew loan rate.
clear as mud?