Good Banks in HK
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Join Date: Jul 2005
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Good Banks in HK
Can anyone recommend a good bank to get a loan from in HK besides HSBC? Any good or bad experiences with RBS, Citibank etc. ? Customer service? Ease of use? Anything is appreciated.
Try Bank of China. They used to match or better any deal offered by the others. It's been a long time since I've used them, but the Central Branch at 2A Des Voeux Road Central, Hong Kong had a loans officer called Bruce Lee ( no joke), who could make it a little easier.
The key is to get someone in the bank that is good.
I found HSBC in the past good, due to having an exceptional banker. Now Iris is gone
It's the same with other banks. You get an idiot in any of them and it's curtains.
I'd be pming the Kiwi or calling Bruce Lee
Someone that is good here and helps is an assest 
I found HSBC in the past good, due to having an exceptional banker. Now Iris is gone
It's the same with other banks. You get an idiot in any of them and it's curtains.
I'd be pming the Kiwi or calling Bruce Lee
Someone that is good here and helps is an assest
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Snoop Doggy Dog is right on target
The key is to get someone in the bank that is good.
Every HKG bank is well versed in the subtleties of working internationally, but the quality of the customer interfaces varies from branch to branch.
Shop around.
Talk to folks thoroughly.
China is very much into social networking and building social capital: you have to INVEST time and sincerity into a relationship. Once you succeed, everything works with lightning efficiency. Get to know them. Let them know you as entirely as possible. This is a trust-based economy that applies to the lowly foreigner too.
Once you find your ideal customer service interface, nourish the relationship with a steady supply of _colourful_ touching little gifts.
Score extra points for dropping in only to drop off such a little gift.
Note the Chinese weakness for exquisite chocolate. For her birthday, work through a colleague who flies into/out of BRU.
Remember that if you treat them as mechanical service providers, they will treat you as a secondhand ATM in need of repairs they will feel no special incentive to provide.
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buying
you all seem to be pretty up to date with this stuff. As a guide, what's required to buy something in HKG with a minumum deposit. Any advise from past experience? Thanks
Join Date: Jul 2008
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For one stay away from any mortgage referal clowns.
Two - Bank Of China quite often gives a very good deal - just talk to a few different people at a few diff branches till you find one that understands what you need.
Plus they will give you a free of fees for all time Platinum VISA when you mortgage through them - but so will most banks.
Three - Tell them exactly what you want and wait for them to say yes or no. Don't ask them what they think/offer. They don't.
There are many ways to finance - talk to guys who have done it - you don't really expect us to type up the whole procedure here for your entertainment do you? It ll take me all day.
Two - Bank Of China quite often gives a very good deal - just talk to a few different people at a few diff branches till you find one that understands what you need.
Plus they will give you a free of fees for all time Platinum VISA when you mortgage through them - but so will most banks.
Three - Tell them exactly what you want and wait for them to say yes or no. Don't ask them what they think/offer. They don't.
There are many ways to finance - talk to guys who have done it - you don't really expect us to type up the whole procedure here for your entertainment do you? It ll take me all day.
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HKMC get a bit funny over $8m.
Be very careful with the HKMC end of things if you're buying over $8m, many have been caught out in the last year or so.
Bank says do it. Sign S&P agreement, pay deposit, wait a couple of weeks, then bzzzt! HKMC says cannot. Forfeit, bye bye deposit
You have to remember you're dealing with a very unsophisticated mortgage market in HK. Make sure you're very very familiar with the process before you sign or pay for anything. Talk to the old boys and guys who've bought recently.
If you're an SO on full whack housing, keep in mind that if your mortgage payment is over 50% of your total monthly income, you can expect disappointment.
Be very careful with the HKMC end of things if you're buying over $8m, many have been caught out in the last year or so.
Bank says do it. Sign S&P agreement, pay deposit, wait a couple of weeks, then bzzzt! HKMC says cannot. Forfeit, bye bye deposit
You have to remember you're dealing with a very unsophisticated mortgage market in HK. Make sure you're very very familiar with the process before you sign or pay for anything. Talk to the old boys and guys who've bought recently.
If you're an SO on full whack housing, keep in mind that if your mortgage payment is over 50% of your total monthly income, you can expect disappointment.
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'If you're an SO on full whack housing, keep in mind that if your mortgage payment is over 50% of your total monthly income, you can expect disappointment.'
why is this?
why is this?
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Pretty sure that if you're dealing with the HKMC, you can't have a payment above 50% of income. I believe that if you are below a 70% loan, you can have a higher payment, with supporting evidence of your housing allowance, etc.
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there is some flexibility in the system, talk to as many people as you can. there are ways around the 50% requirement, ask housing if they have any suggestions.... and have all your paper work ready on your first visit to the bank. Check list of paperwork required is available from HSBC or most other banks.
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Pretty sure that if you're dealing with the HKMC, you can't have a payment above 50% of income. I believe that if you are below a 70% loan, you can have a higher payment, with supporting evidence of your housing allowance, etc.