Like ordinary property transactions, such transfer entails the engagement of a solicitor to handle the agreements for sale and purchase, and schedule a transaction date. Hence, solicitor’s costs is inevitable.
Banks in Hong Kong have been known for low interest rates. Rents of most of the properties could cover the monthly mortgage payments. Therefore, some investors would rent out a property right after buying it in order to earn stable passive income. Below are 10 frequently asked questions (FAQs) about how renting out a property would affect mortgage application.