What documents do I need to provide when I apply for a mortgage?
The specific document requirements may vary depending on different applications and scenarios, but there are some common documents you may need to provide for all types of applications.
For all mortgage applications
When applying for a mortgage, you’ll need to provide:
- Hong Kong ID Cards or passports of all borrowers (and guarantors, if any)
- Provisional Agreement for Sale and Purchase (PASP) and attachment (for newly purchased property)
- Existing mortgage details (if applicable) (for example, related loan repayment schedule, loan agreement and offer letter)
- Tenancy agreement (if applicable)
- income proof1
| HSBC regular salaried payroll customer | Non-HSBC regular salaried payroll customer | Any irregular salaried or self-employed customer |
|---|---|---|
| Your payroll account record with us is automatically incorporated in the mortgage application assessment | Latest 3 months’ bank passbook or statements (full set) evidencing your income | 1. Latest 6 months’ bank passbook or statements (full set) evidencing your income 2. Tax demand notes or latest 6 months’ salary payroll advice |
| HSBC regular salaried payroll customer | Your payroll account record with us is automatically incorporated in the mortgage application assessment |
|---|---|
| Non-HSBC regular salaried payroll customer | Latest 3 months’ bank passbook or statements (full set) evidencing your income |
| Any irregular salaried or self-employed customer |
1. Latest 6 months’ bank passbook or statements (full set) evidencing your income 2. Tax demand notes or latest 6 months’ salary payroll advice |
1 Income proof requirement may vary case by case. For enquiries, please contact our staff.
In addition to standard documents above, further documentation is needed for the followings:
For government housing schemes
When applying for a government housing scheme mortgage, you’ll need to provide:
- the original Home Ownership Scheme (HOS) or Green Form Subsidised Home Ownership Scheme (GSH) Agreement and the respective Official Receipt for the deposit (for HOS/GSH)
- Nomination Letter and Nomination Fee Receipt by Housing Authority
Certificate of Eligibility to Purchase by Housing Authority (for mortgage under Secondary HOS Market Scheme) - Certificate of Eligibility for Sale from Seller (for mortgage under Secondary HOS Market Scheme)
- Letter of Offer issued and approved by Housing Authority (for Tenants Purchase Scheme)
For refinancing
When refinancing your existing mortgage, you’ll need to provide:
- Proof of latest mortgage loan outstanding principal balance with existing mortgage bank or financial institution
- 6-month repayment record of the mortgage loan from existing mortgage bank
- Consent Letter by Housing Authority (for government subsidised schemes)
For self-employed applicants
If you’re self-employed and without regular income, you’ll also need to provide your:
- latest profits tax demand note issued by the Hong Kong Inland Revenue Department; or
- latest audited financial statements including Statements of Profit and Loss and Balanced Sheet of the business
- Business Registration Certificate
For applications under Shell Company registered in Hong Kong
With this type of application, you’ll need to provide:
- Hong Kong ID Cards or valid identity proof of all company shareholders / directors (all shareholders have to be the guarantors)
- Bank statements showing each guarantor's salary deposits for the last three months
- Proof of each guarantor's employment, which could be:
- the latest tax demand note, OR;
- the latest employer's tax return note, OR;
- other income proof documents issued by the guarantor's employer. - Business Registration Certificate or Certificate of Incorporation of the shell company
- Minutes of meeting approving the mortgage application and indicating mortgagee bank, property address and loan amount
Is there any charge for a mortgage application?
No fee is charged when you apply for a mortgage loan. However, if you have accepted our offer and do not draw down the loan within the period stated in the offer letter, we will charge a cancellation fee of 0.15% of the loan amount.
How much can I borrow?
You may use the Instant Mortgage Assessment to understand how much you will be able to borrow. This calculation is for illustration and your reference only.
Does HSBC accept mortgage application referrals from intermediaries?
We only accept mortgage application referrals from our appointed mortgage referral brokers, including:
- Centaline Mortgage Broker Limited
- mReferral Mortgage Brokerage Services
- Ricacorp Mortgage Agency Limited
- Honour Finance Co Ltd
- U Mortgage Limited
- Hong Kong Real Estate Agencies General Association
- Cybernetics 1 Limited
- Many Wells Property Agent Limited
For enquiries of the list of mortgage referral brokers, please call our Mortgage enquiry hotline at 2748 8080, press “4”for mortgage services.
Can I choose my own solicitors' firm?
Yes, you can choose a solicitors' firm to advise you on the mortgage.
However, if you would like the same firm of solicitors to act for both you and the Bank, the firm you have chosen must be agreed by the Bank, otherwise they will not be able to act for the Bank as well, and we will need to appoint another firm of solicitors to act for the Bank.
Please also note that you need to bear the legal cost for the mortgage transaction. If there are two different firms of solicitors acting for you and for the Bank, you will need to bear the legal costs of both firms of solicitors. Each firm may charge extra fees for the additional work in reviewing the other firm’s documentation and accordingly, the legal cost for such arrangement may be higher than using just one firm of solicitors agreed by the Bank to represent both parties.
Do I have the choice on the solicitors’ firm to act for the Bank?
Yes, you can choose the solicitors’ firm to act for the Bank but this firm must be approved by us.
Do I need to arrange fire insurance for the mortgaged property?
Yes, it is your responsibility to arrange fire insurance against fire risk and allied perils. Alternatively, if there may be a master policy already in place for your property which is acceptable by us, you can adopt the master policy instead of taking out a separate fire insurance. Please check with your estate's management company to find out more about the master policy for your property.
Can I choose my own insurance company to arrange fire insurance?
Yes, you can choose the fire insurance company which is agreed by us or your selected insurance company that meets the criteria of the Bank from time to time. Please contact HSBC branch for more details.
Can I choose my own fire insurance provider?
Yes, you can choose your own fire insurance provider agreed by us.
What are the options for repaying my mortgage?
Mortgage repayment options include:
- monthly or fortnightly repayment frequency
- fixed instalment amount or fixed loan tenure
Contact HSBC branch for details of the options available for your mortgage.
Can I change my mortgage repayments?
To change the amount or frequency of your mortgage repayments, please visit HSBC branch. There may be a charge for making this change: see the prevailing Bank tariff guide for HSBC Wealth and Personal Banking Customers for details.
Can I change to a different mortgage?
To change your mortgage plan, visit HSBC branch to check your eligibility for other mortgage plans. There may be a charge for making this change: see the prevailing Bank tariff guide for HSBC Wealth and Personal Banking Customers for details.
Can I repay some or all of my mortgage early?
To arrange early repayment of your mortgage, contact HSBC branch. There may be a charge for early repayment: see the latest Bank tariff guide for HSBC Wealth and Personal Banking Customers and your mortgage facility letter for details.
If the charges in the Bank tariff guide are different from the mortgage facility letter, the mortgage facility letter will prevail.
Will I receive any eStatements for my mortgage account?
You can register to receive eStatements and eAdvice for your mortgage accounts in HSBC Online Banking.
Are there any brief highlights to note if I am a non-Hong Kong resident going to apply for a mortgage?
Consider it if …
- you are not residing in Hong Kong while you purchase a Hong Kong property
- you are aware of and have prepared sufficient fund for additional government tax (including stamp duty) payment and/or other taxation arrangement (if applicable) which applies to non-resident buying a Hong Kong property
- you understand the potential risk of buying a Hong Kong property while you are not residing in Hong Kong, such as government tax, housing policy and/or currency fluctuation risk
Not consider it if …
- you have not arranged fund for additional government tax (including stamp duty) payment and/or other taxation arrangement (if applicable) which applies to non-resident buying a Hong Kong property
- you are not willing to take the potentially higher risk of buying a Hong Kong property while you are not residing in Hong Kong, such as government tax, housing policy and/or currency fluctuation risk
Highlights for your best interest
- You should be aware of the potential risk if you, as a non-Hong Kong resident, apply for a mortgage over a property locating in Hong Kong, for example, government tax and housing policy from time to time applicable to non-Hong Kong residents buying a Hong Kong property. You should consider the currency fluctuation risk, if the currency of the loan is different to the currency of your income or you need to make cross-border loan repayments
- We will assess your application by making reference to credit report from credit reference agencies, your income proof, other information submitted where applicable as well as the prevailing regulatory requirements in Hong Kong