Standard Chartered unveils mortgage plan with fixed rate

The plan has a fixed rate of 1.68% p.a. for the first year.

Standard Chartered Bank (Hong Kong) launches their Fixed Rate Mortgage Plan which will offer a fixed interest rate of 1.68% p.a. for the first year, and 2.15% p.a. for the second year to home buyers who purchase properties below HK$8 million for their own occupancy and do not hold any residential properties in Hong Kong at the time of application.

The mortgage interest rate will be set at H+1.30% p.a. thereafter for the whole tenor, capped at P-3.0% p.a. For other buyers of self-used properties who do not meet the above criteria, they may apply for a fixed interest rate of 1.88% p.a. for the first year and 2.45% p.a. for the second year.

To be eligible for the plan, the applications must be submitted on or before 31 March, 2018 and have the mortgage loan drawn down on or before 30 June, 2018. This is a limited offer on a first-come-first-served basis.