Regulatory Alerts2024-08-02
Added · Updated
Residential mortgage lending under the Mortgage Insurance Programme
The Hong Kong Monetary Authority issued this circular to align Mortgage Insurance Programme lending standards with its countercyclical macroprudential measures. It mandates that MIP loans for properties with waived owner-occupancy requirements remain subject to the more favorable loan-to-value and debt servicing ratio limits applicable to self-occupied properties. Additionally, the regulator stipulates that mortgage terms for such rented properties must not be more restrictive than prevailing terms for non-MIP rental properties.
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