Enhanced HLISS assists HA staff to acquire property
For the purpose of staff retention, Hospital Authority (HA) has launched the Enhanced HLISS (the ‘Scheme’), an enhancement to the existing ‘Home Loan Interest Subsidy Scheme (HLISS)’, to provide Staff Loan with interest subsidy to eligible staff to finance their purchase of a residential property, to change property or to refinance the existing mortgage loan(s) of a property so that staff will be paying interest on the Staff Loan at a preferential interest rate. The Scheme is now open for application. Interested colleagues may refer to the HR Circular issued by HAHO on 29 December 2022 for details.
You can apply for the Enhanced HLISS if you want to change property or refinance your existing mortgage.
Q2: As an existing HLISS recipient, can I join the new scheme?
Existing HLISS recipients can continue to receive interest subsidy if you wish. Or you can apply for Enhanced HLISS when you want to change property or refinance the existing mortgage. The period of entitlement you have enjoyed in the HLISS will be taken into account to determine the staff loan tenor under the Enhanced HLISS. In consideration of the availability of funds, applications will be prioritised within each staff groups according to the priority system.
Q3: Should I purchase the property first and then apply for the Enhanced HLISS?
You are suggested to submit the Initial Application (IA) via e-application first. Upon receiving the Approval-in-Principle (AIP), the initial successful applicants are advised to approach the Panel Bank to ascertain their mortgage eligibility before making any commitment to purchase, and they should submit the Formal Application together with supporting documents (e.g. Agreement for Sale and Purchase) within six months from the date of issue of AIP.
Q4: Does Enhanced HLISS accept HIBOR Mortgage Plan (H Plan) for the Bank Loan?
Yes, Prime rate based (P Plan), HIBOR-based (H Plan) or fixed rate mortgage plan on Bank Loan is acceptable under the Enhanced HLISS.
Video of the scheme
Scheme details
Eligibility Criteria
Video of e-Application
HA HLISS hotline: 2300 7543
Eligibility criteria
- At least three years qualifying services (without receiving 5% Allowance in lieu of HLISS)
- Full time permanent and contract employees whose employment contract specifies that he/(she) is eligible for HLISS
- Must personally live in the property, and subject to Double Benefits Rule
Details of the Staff Loan
- Maximum loan size: capped at the lower of 48 times basic monthly salary and HKD six million
- Minimum loan size: HKD 500,000
- HA subsidy rate: capped at 3%*
- Staff loan tenor: Lower of bank loan tenor and period of entitlement (POE) (maximum for 20 years, subject to normal retirement age of the staff concerned)
- The Staff Loan principal and interest would be repaid via deduction from the monthly wage or by HA paying the relevant part of the wages to the Panel Bank for settlement of the aforesaid amounts
Bank Mortgage Loan Criteria
- A Bank Loan has to be taken out from one of the Scheme’s Panel Banks and the same Panel Bank will be administering the Staff Loan. (Two current participating banks are Bank of China (Hong Kong) Limited and Standard Chartered Bank (Hong Kong) Limited)
- Total Bank Loan and Staff Loan shall not exceed 90% of the property value or appraised value whichever is lower
Ownership & property criteria
- Not more than three co-owners
- Private residential properties in Hong Kong* (including maximum of two car park(s), if any, under same sale and purchase agreement or existing mortgage loan(s))
- No limit on property value. Total monthly repayment of Staff Loan and Bank Loan must not exceed the limit on debt-to-income ratio for both normal and stressed scenarios as prescribed by the Hong Kong Monetary Authority
Q&As for staff
Q1: I already owned a flat. Can I apply for the Enhanced HLISS?You can apply for the Enhanced HLISS if you want to change property or refinance your existing mortgage.
Q2: As an existing HLISS recipient, can I join the new scheme?
Existing HLISS recipients can continue to receive interest subsidy if you wish. Or you can apply for Enhanced HLISS when you want to change property or refinance the existing mortgage. The period of entitlement you have enjoyed in the HLISS will be taken into account to determine the staff loan tenor under the Enhanced HLISS. In consideration of the availability of funds, applications will be prioritised within each staff groups according to the priority system.
Q3: Should I purchase the property first and then apply for the Enhanced HLISS?
You are suggested to submit the Initial Application (IA) via e-application first. Upon receiving the Approval-in-Principle (AIP), the initial successful applicants are advised to approach the Panel Bank to ascertain their mortgage eligibility before making any commitment to purchase, and they should submit the Formal Application together with supporting documents (e.g. Agreement for Sale and Purchase) within six months from the date of issue of AIP.
Q4: Does Enhanced HLISS accept HIBOR Mortgage Plan (H Plan) for the Bank Loan?
Yes, Prime rate based (P Plan), HIBOR-based (H Plan) or fixed rate mortgage plan on Bank Loan is acceptable under the Enhanced HLISS.
Video of the scheme
Scheme details
Eligibility Criteria
Video of e-Application
HA HLISS hotline: 2300 7543