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FINANCIAL SERVICES | Staff Reporter, Hong Kong

Standard Chartered HK to increase mortgage interest rate

The changes will take effect today, 21 November 2011 - but how much will the increase be?

In a release, Standard Chartered Bank (Hong Kong) Limited announced that it will raise the HIBOR-linked mortgage to the range between H+2.5% and H+3% from the range between H+2% and H+2.5%, cap rate remains at the level of P-2% to P-2.35%. Cash rebate remains at the range of 0.2% to 0.5% with 2-3 year penalty. The mortgage interest rate for prime-based plan will be raised to the range between P-2% and P-2.4% from the level of P-2.35% to P-2.65%.

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