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RESIDENTIAL PROPERTY | Staff Reporter, Singapore
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Hong Kong realtors offer zero down payment lending schemes

It is expected to drum up sales.

Hong Kong two largest property agencies, Midland Realty and Centaline Property Agency, are offering “zero down payment” schemes to existing home owners in a bid to drum up sales, a move that challenges the Hong Kong Monetary Authority tightening mortgage policy, which is intended to temper soaring property prices.

According to a report from South China Morning Post, mReferral Mortgage Brokerage Services, a unit of Hong Kong-listed Midland Holdings, will lend up to 130 per cent of the value of a flat, up to a maximum of HK$20 million, through financial institutions from Tuesday.

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