Everything about buying private residential properties: first-time buyers, presale, second-hand properties.
Complete GuideMortgage referrals can compare interest rates, cash rebates, and approval conditions from multiple banks simultaneously, and assist with documentation and queries. According to regulations, banks should offer similar rates to direct and referred customers, so using a referral generally won't be more expensive than walk-in, and may even make it easier to get high rebate packages.
Common red flags include: unused revolving credit limits, frequent gambling transactions (like HKJC) in salary accounts, large transfers for repaying finance company loans for relatives, and monthly credit card payments far exceeding monthly income. Banks may suspect hidden debts or inaccurate income declarations.
Generally, it's recommended to start contacting banks or mortgage referrals about three months before the expected completion date, and prepare income documents. If the developer delays completion, banks may need updated documents or fresh credit checks, so allow sufficient time for changes.
In some cases (such as "residential with parking" split sales) only certified copies remain. If lawyers can trace and verify the title source, banks usually still accept it. However, for genuine missing deed cases, mortgage approval will be very conservative or even impossible.
Guarantors bear legal responsibility for the related mortgage, and repayments are fully counted as the guarantor's debt. When applying for your own mortgage later, borrowing capacity is typically reduced by 10%, and debt-to-income ratio requirements become stricter, significantly reducing actual borrowing amounts.