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Boat in HK good idea and where?

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Boat in HK good idea and where?

Old 5th Oct 2018, 05:08
  #141 (permalink)  
 
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AP, you are letting that hot headed temper of yours rule the simplicity of the legal case with livaboards.
Im not been negative, infact im pointing out that as we work for CX, a mortgage or boatloan is paid each month.
Ok you will no longer make anything, but the at the end of the day, its not life savings. You are still employed with full allowances.

The real issue is with those guys who take the monthly payment directly from salary. With no subsidy.

I know there are bankers and financiers on the DB marina who will put the loss down to the acceptable
risk of owning a boat in DB. As morning coffee correctly states above.

Its always been a case of buyer beware and due diligence. Nothing new there, we all do a risk assessment on everything we buy. And then make the choice.
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Old 5th Oct 2018, 11:30
  #142 (permalink)  
 
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Bicker all you want about the past, but what exactly is the plan for the future? As pointed out above, you don't need $90k pm to house a family of five, and there is this bizarre concept of stay at home adults sometimes needing to find work when financial situations change.

Who is the target of the media campaign? RHKYC??
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Old 6th Oct 2018, 09:10
  #143 (permalink)  
 
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Originally Posted by Air Profit View Post
MC: once again, just trying to be the stirrer. Funny, my two friends in the Marina never had any such questions. I suppose it was probably because they took one look at you and realised you were dodgy on every level, so they decided to up the ante a bit in your case. Basically, as with everything else you say on PP, you are full of sh*t.
Just for Air Profit. HSBC,Standard Chartered, Hang Seng etc etc etc are banks, they do mortgages, they assess risk so they donít touch liveaboards.

Hitachi Finance isnít. Itís a Finance Company and is completely and utterly different from a bank. It canít accept deposits and has to issue bonds or borrow off the secondary market. They do commercial finance worldwide for plant and machinery, I have no idea why theyíre in liveaboard finance.

If your mates happily signed at 100-150+ basis points above, Iím not surprised Hitachi didnít ask questions. Under UK law, I assume Hkg is similar, your dwelling has to be on a plot of land to get a mortgage. No idea why guys are calling it a boat mortgage.

I did sugggest AOA members financially help. Why AP thinks thatís such a sh*t idea, Iíll never know.



Confused?





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Old 6th Oct 2018, 10:05
  #144 (permalink)  
 
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Originally Posted by Bend alot View Post
Cheers Mate, ours went fine from export at Eastern Europe to Australia till a birds nest was found inside a wing - then that made for hard times.
Wish you the best. Are you following the boat or staying a while?
Boat has arrived SYD but will not be unloaded until Monday, a day earlier than scheduled. Damage inspection willtake place Monday morning ( standard practice for insurance ) then Customs in the pm. Hopefully, unloaded at dockside and mine by Tuesday.

So f**k you Sloppy Joe
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Old 6th Oct 2018, 10:09
  #145 (permalink)  
 
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Originally Posted by unitedabx View Post
I'm following the boat. Gone by Xmas. No futire here.
So you are after a Happy New Year on the real date!
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Old 6th Oct 2018, 10:49
  #146 (permalink)  
 
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Originally Posted by unitedabx View Post
Boat has arrived SYD but will not be unloaded until Monday, a day earlier than scheduled. Damage inspection willtake place Monday morning ( standard practice for insurance ) then Customs in the pm. Hopefully, unloaded at dockside and mine by Tuesday.

So f**k you Sloppy Joe
Good news hope all goes well.
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Old 7th Oct 2018, 05:17
  #147 (permalink)  
 
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Originally Posted by Bend alot View Post
Good news hope all goes well.
Thanks everyone. Yep I'll be gone on 1/1/2019
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Old 7th Oct 2018, 05:33
  #148 (permalink)  
 
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All the best Unitedabx. Always nice to hear that someone has escaped the asylum.
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Old 7th Oct 2018, 08:23
  #149 (permalink)  
 
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[QUOTE][If your mates happily signed at 100-150+ basis points above, Iím not surprised Hitachi didnít ask questions. Under UK law, I assume Hkg is similar, your dwelling has to be on a plot of land to get a mortgage. No idea why guys are calling it a boat mortgage./QUOTE]

...... because it says Ďmortgageí on the front page of the loan (mortgage) agreement, MC
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Old 7th Oct 2018, 09:12
  #150 (permalink)  
 
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Originally Posted by Air Profit View Post
All the best Unitedabx. Always nice to hear that someone has escaped the asylum.
Thanks AP.
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Old 7th Oct 2018, 13:56
  #151 (permalink)  
 
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your dwelling has to be on a plot of land to get a mortgage
Boats and aircraft can be mortgaged. I'm not sure if the categorisation of it being your dwelling comes into it.

Last edited by Dan Winterland; 7th Oct 2018 at 14:08.
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Old 8th Oct 2018, 03:01
  #152 (permalink)  
 
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Gold Coast Update.

Prospecting vessel currently moored off the marina wall. Permit to remain on site to do sample work on the subsurface sediment/mud content. Information from Knowledgeable source says
that Sino Land are planning to dredge the marina and the process of mud collection is requirement of the government environment agency to check for contaminants.

Once approval is granted, and we all know it will be, a major dredging activity will take place, deepening the existing channel to the large boat docking area.
Wether Sino Land will use this as an excuse to give boat owners the opportunity to move, is anyones guess. What is forecast is that Sino management want more access for larger vessels, ie the Super Yachts , which currently cannot access the marina as its too shallow.

Rumour : Sino will dredge the main thoroughfare, and, due safety concerns , will require boats currently moored on C Dock(and maybe B dock) to vacate their moorings. As all GC debentures have a three month surrender clause, Sino don't have to be particularly compassionate.

HK , its such a loverly place under the veneer of the World City BS.
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Old 21st Oct 2018, 15:02
  #153 (permalink)  
 
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Whatís the current status at DB Marina? Iíve heard of the extra 3 months mooring for an additional $150k refundable bond, but no water/electric hookup and no Marina Club.
Are boats being moved out or are people holding out for a change in direction from DBMC?
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Old 21st Oct 2018, 18:58
  #154 (permalink)  
 
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[QUOTE=Verbal Kint;10267787]
[If your mates happily signed at 100-150+ basis points above, Iím not surprised Hitachi didnít ask questions. Under UK law, I assume Hkg is similar, your dwelling has to be on a plot of land to get a mortgage. No idea why guys are calling it a boat mortgage./QUOTE]

...... because it says Ďmortgageí on the front page of the loan (mortgage) agreement, MC
you might need to ask a lawyer about the difference between a mortgage for a dwelling and a ďmortgageĒ for your boat. Though Iím sure you already have.
Hope a solution is found.
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Old 23rd Oct 2018, 07:16
  #155 (permalink)  
 
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Originally Posted by Busbert View Post
Are boats being moved out or are people holding out for a change in direction from DBMC?
No boats have moved yet, as far as I know. Most owners are expecting a compromise, from HKR or an intervention by the
merine & fisheries dept. Rumour of a temporary mooring area to be established, allowing boats to be left unoccupied, until official moorings can be found.

The marina is forecast to be closed for 3 months. Its expected that HK resorts will then invite current debenture holders to reapply for the new issued debentures. However, the price is expected to be greater than the value of 90% of the majority’s investment , and a specific clasuse of no permanent occupancy to be included.
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