Best mortgage HK?
 

Any recommendations ? Broker, specific bank or branch?
Thanks

I used a broker by the name of Vincent Chow , EC Mortgage 9182 9781 and signed up last friday with Hang Seng. Process was very easy and straight forward and the guy gave me the impression of being very trustworthy ... not typical of a lot of HK businesses I have had experience with over the last 12 years.

Frances L, she'll help you through the stack of paperwork and set everything up. I think she gets a cut from all the people you will use, but it is most likely less than what you would pay if you put in countless more hours and walked up to all the different bits (lawyer, bankers, realtors). Tons of CX guys have worked with Frances.

Bank of China is very flexible. HSBC has too many restrictions if you want to go HIBOR.

Doesn't matter at this point. You buy now and you'll be underwater within a couple years.

That's what "everyone" said in 2008. And 2009. And 2010. And 2011. And now in 2012. Meanwhile, everyone who bought property is way ahead.

How do you "know" that now is the wrong time to buy? Which market "rules" and indicators of the last 5 years did HKG's market follow which will continue to be followed?

Wow sounds like someone is defensive and little nervous...

Just asking how iflylow is able to predict the future accurately...

I went down to see the fortune teller only yesterday.......................


The sign on the door of the shop said "Closed due to unforeseen circumstances"


.....................

Thanks for the answers.

They could have gone into discretion for a couple of hours, just to HELP out.......

One with a zero balance would be the best type of mortgage!!!

Fact, I was "advised" by all the expert mates not to buy in 2009..... now I am up 18% and half the mortgage paid.

..... and Francis was a great help.

I think you should buy, prices only go up. It doesn't matter that they've gone up over 80% in 3 years, it will only go up more.

It doesn't matter that over 60% of the pilots at CX have only seen a rising property market in HK. No, they are not biased, they are excellent investors who closely follow the Greater Fool Theory.

It will only go up because a) this time is different b) Beijing will never allow it to go down c) HK is so rich d) Interest rates will never rise e) The developers will never allow it) f) blah blah blah

If it's a short term investment you are looking at then be careful. It can and will bite you.

If it's long term, then go ahead. If you are going to live in it then that's easy.
If you are going to rent it then make sure you have enough cash flow to ride out an interest rate rise. Rates will stay low for a while yet but they have to rise eventually.

" Don't wait to buy real estate, Buy real estate and wait"

It's a marathon not a sprint

I have had experience with mortgages in Hong Kong over the last 20 years.

Mr. CHAN Leung Hoi, Telephone: 3609-2733

He knows CX and KA policy and very helpful.

And eventually they'll be correct, probably.

Yeah, and a stopped clock is right twice a day.

Giggerty is the most correct. If you take a long-term view, and if you are on the old housing scheme, then it is a simple problem. When we bought our first place, we had a 5 year timeframe. Our place would be paid in 5.5 years, and so virtually no financial risk for us. It has worked 3 times. Just don't buy expecting to make 20% in 12 months. You may be sorely disappointed.

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Your math is worthy of a Wall Street executive who received a 3M US$ bonus 8 months after declaring bankruptcy.