Mortgage Insurance Programme

The Hong Kong Mortgage Corporation Revision 20th June 2011

The HKMC lowered the cap on the value of property that can be covered under the Mortgage Insurance Programme (MIP) from HK$6.8 million to HK$6 million. As a result, for mortgage loans with MIP cover starting from 70% loan to value (LTV) threshold, the maximum loan amount will be reduced from HK$6.12 million to HK$5.4 million.

In addition for mortgage loans with MIP cover starting from 60% LTV threshold, the maximum loan amount will be reduced from HK$6 million to HK$5 million. The MIP will not be available to applicants whose principal income is not derived from Hong Kong unless they can demonstrate that they have a close connection with Hong Kong.

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