Although new HOS flats and those eligible for purchase by buyers with White Forms are both subsidized housing provided by the Housing Authority (HA), the first programme involves first-hand properties, while the latter involves used HOS flats before premiums for them are paid to the government.
作者: Chen Anya
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How much stamp duty do I have to pay?
Currently, the Ad valorem stamp duty rate for residential property transactions is flat at 15 per cent.
Does credit rating affect mortgages?
A personal credit rating is a reference indicator that most banks use when processing and approving loan and mortgage applications.
What should you do if you receive lower valuation from banks?
Banks usually evaluate the market value of a property based on different factors, including the property’s location, views from the flat, on which floor it is located, and transaction records in the building when appraising the property.
What is a bank’s stress test?
To avoid excessive lending that could lead to a housing bubble, the government has introduced a stress test.
How is the mortgage ratio calculated?
Applying for a mortgage loan is mainly divided into two categories: The first type is based on income, and the second type involves worth–based lending.
What documents are required to apply for a mortgage loan?
A) Applicants with fixed income(1) HKID cards of borrower and guarantor (if applicable)(2) Sale and Purchase Agreement (applicable to new mortgages)
How to apply for a mortgage loan?
After signing the provisional sale and purchase agreement, the buyer can formally start applying for a mortgage loan. Owners can directly find a bank or find a professional mortgage referral company, such as Mreferral Mortgage Brokerage Services.
What are the hidden expenses when buying a property?
The purchase of a property generally involves three main legal documents: sale and purchase agreement, deed of assignment and mortgage deed. The solicitor’s fee, will be subject to the transaction value and the age of the property, and it usually amounts to several thousand Hong Kong dollars or more.
What needs to be done to prevent a potential mortgage trap when buying a village house?
Village houses are roughly divided into two categories – standard “small house” and village house on “old schedule lot”. The most common are standard small houses, which are three-storey high and have a floor area of about 700 square feet each.
What should I pay attention to when buying a village house?
Buying a second-hand village house can avoid the risk of government not granting the Certificate of Compliance. At present, new-style village houses are generally built like housing estates with well-managed gardens, parking lots and playground.
What are the procedures when buying second-hand properties?
The first thing to do when buying a flat is, of course, to look for one and conduct an ocular inspection of the building. Many real estate agencies list properties on their websites and mobile apps.
What should buyers pay attention to when buying an uncompleted flat?
Staged payments are generally provided in new properties, but mortgage payment installments can also start immediately. The advantage of opting for immediate mortgage installment payment is the buyer can enjoy a higher discount from the developer, but the former needs to start repaying the mortgage loan even before the property is ready for occupation.