Enhanced HLISS now accepts applications year-round
Timely assistance for new home purchase
A nurse from Shatin Hospital used to live with his family of four in a village house with stairs. To better care for his family member who needs a wheelchair due to medical illness, he purchased a three-bedroom flat in a residential building with elevators. To reduce the down payment burden, he undertook 85% of the mortgages, with staff loan of more than HK$3 million and bank loan for the rest of the mortgages. “We saved over HK$100,000 on mortgage insurance premium, and compared with the market mortgage rates, we now pay at least HK$2,000 less a month on mortgage payments. Without the Enhanced HLISS, we might have had to settle for a smaller, less expensive unit.”
New home for a growing family
A doctor from New Territories West Cluster with more than 10 years of working experience in HA purchased his first home – a three-bedroom flat near his workplace – when he needed more space and expected new member to the family. “On the open market, the maximum mortgage rate a bank would offer is 80% and paying mortgage insurance premium is required. With the Enhanced HLISS, I am happy to get approved for the cap of staff loan and secure a 90% mortgage at a lower interest rate, saving on mortgage costs and mortgage insurance premium. The assistance HLISS staff provided has facilitated a smooth application process. The Enhanced HLISS does offer colleagues an additional choice when the current property price is high, which definitely has a positive impact on staff retention.”
Tips for Enhanced HLISS:
- Applications for Enhanced HLISS cover properties under construction. For relevant details such as the scope of coverage and restrictions on scheduled completion date, please refer to the related Call Circular and the Enhanced HLISS Terms & Conditions.
- In the process of buying and selling a property and applying for mortgage loans, the title deeds are important documents for proof of title. Enhanced HLISS only accepts physical deeds in paper form and does not accept electronic deeds/CD deeds.
Video of Applying for Enhanced HLISS