Find the best mortgage plan with a desired mortgage rate and cash rebates for your new property purchase in Hong Kong! Our mortgage specialists will guide you all the way through and get you the best deal.Apply for mortgage loans through MoneySmart today!
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A mortgage is a loan that mortgage borrowers take out for house buying. If the repayments slip through, the lender can repossess the property and sell it. To avoid this from happening, it is important for mortgage borrowers to compare different mortgage offers and pick the one that is affordable.
HIBOR Rate (known as H Plan) is the benchmark interest rate for lending between banks within the Hong Kong market while Prime Rate (known as P Plan) is decided by individual banks. H Plan is reflective of the borrowing costs, so it fluctuates on a daily basis. A few years ago, HIBOR was low, so many applicants preferred H Plan over P Plan. However, HIBOR has increased a lot in recent years and many mortgage borrowers end up using the capped mortgage rate to repay their monthly mortgage. Given this situation, the interest rate of H Plan and P Plan are much closer now.
If you are like most people, you are very likely to be time deprived to conduct all the research on mortgage yourself. That’s where MoneySmart comes in. We provide free valuation and application service. You can apply for an array of plans and the application results will be available in just 9 working days. What's more, you can get up to a 1% rebate!
| Bank | P Plan Interest Rates | H Plan Interest Rates | Cash Rebate |
|---|---|---|---|
| Citibank | P(5.25%) - 2.75% = 2.5% | H+1.3% | 1.2% |
| Standard Chartered | P(5.25%) - 2.75% = 2.5% | H+1.3% | 1% |
| HSBC | P(5%) - 2.5% = 2.5% | H+1.3% | 1% |
| Bank of China | P(5%) - 2.5% = 2.5% | H+1.3% | 1% |
| Hang Seng Bank | P(5%) - 2.5% = 2.5% | H+1.3% | 1% |
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