“Mortgage Insurance Programme” (Up to 90% Mortgage Loan) for first time home buyer

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New Purchase Mortgage Plan

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Allows you to achieve dream of home-ownership with less downpayment

Mortgage loan amount of up to 80% of the purchase price/ appraised property’s value (whichever is lower). First time home buyer who fulfils relevant requirements can borrow up to 90%^*
Mortgage loan tenor of up to 30 years
Borrow insurance premium⁽¹⁾ along with the mortgage loan in one lump sum

Below is the case sharing for "Mortgage Insurance Programme" (for reference only) Mr and Mrs Chan applies for 90 percentage mortgage loan, along with insurance premium through Hang Seng Mortgage Insurance Programme and pay a less down payment of HKD1,350,000.

Mr and Mrs Chan applies for 90 percentage mortgage loan, along with insurance premium through Hang Seng Mortgage Insurance Programme and pay a less down payment of HKD1,350,000.

^ “Mortgage Insurance Programme” applicant can also borrow the insurance premium (HKD7,200,000x2.5%=HKD180,000) along with the loan. Insurance premium amount is based on mortgage type, loan-to-value ratio and loan tenor.

* “Mortgage Insurance Programme” applicants who fulfilled the following criteria are eligible for mortgage loans with maximum 90% loan-to-value ratio (“LTV”) (base on the lower of purchase price / valuation of the property): (i) all mortgagors not holding any residential properties in Hong Kong at the time of application; and (ii) all applicants being regular salaried persons; while the maximum LTV of this plan is generally 80%. The loan amount is subject to the final approval of Hang Seng Bank Limited (“Hang Seng”).

One-Stop Mortgage Service for Hang Seng “Mortgage Insurance Programme”

Instant Initial Assessment⁺ Customers get to know the initial assessment result such as loan size, loan tenor, etc
Follow-up by Professional Mortgage Consultants Equipped with professional and comprehensive mortgage knowledge to follow up from enquiries handling to completion of mortgage application

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Mortgage Insurance Programme - Green Promotion provided by MIP Insurer

The Mortgage Insurance Programme providers, HKMC Insurance Limited and QBE Mortgage Insurance (Asia) Limited (collectively, the "MIP Insurer"), are offering the Green Promotion (the "Offer") to eligible borrowers. The Offer is provided solely by the MIP Insurer and does not form part of any Bank product or service, including the Green Mortgage Plan. The Bank is not a party to the Offer and accepts no liability in connection with it.

From now until 31 Dec 2026^#, enjoy extra cash incentive for mortgaged property with an eligible “BEAM Plus” rating (see Note 1 below) at the time of loan application under the Mortgage Insurance Programme:

HK$3,000 (for loan amount^## below HK$5,000,000); or
HK$5,000 (for loan amount^## at or above HK$5,000,000)

subject to a cap equal to the original mortgage insurance premium (ie single premium or initial annual premium) paid to the MIP Insurer upon loan drawdown.

^# Loan must be drawn down on or before 31 December 2027 with the MIP Insurer
^## Exclusive of financed premium (if any)

Note

The mortgaged property must be with a “BEAM Plus” rating at the time of loan application.
“BEAM Plus" rating refers to (i) Platinum or Gold rating (Provisional or Final) under "BEAM Plus New Buildings", or Platinum or Gold rating (Final) under "BEAM Plus Existing Buildings (Comprehensive Scheme)" as shown on Hong Kong Green Building Council (“HKGBC”)’s BEAM Plus Project Directory and Statistics; or (ii) Green+ or Green rating under "BEAM Plus Interiors (Residential)" as evidenced by a valid certificate issued by the HKGBC.
The Bank will credit the incentive to customers’ designated account (as specified in the Letter of Offer) within one month from the drawdown date, upon confirmation of eligibility from the MIP Insurer.
Subject to successful loan drawdown, no refund of the incentive is required in the event of early repayment (full or partial) of the loan. The Bank has no liability for any delay or failure in payment caused by the MIP Insurer.
All eligibility decisions and disputes shall be determined by the MIP Insurer, whose decision is final. Enquiries or complaints should be directed to the MIP Insurer. The MIP Insurer may suspend, vary, or terminate the Offer without prior notice.

Remarks

(1) Successful applicants will be required to pay the mortgage insurance premium via Hang Seng. The Insurer reserves the right to change the above insurance premium rate from time to time without prior notice.

+ Result of Initial Assessment is for reference only and should not be regarded as a final approval for the mortgage loan from Hang Seng or a representation from Hang Seng that a final approval will be granted. Further assessment will be conducted according to Hang Seng’s prevailing policies when all of the documents required by Hang Seng are collected. The formal mortgage loan application is subject to final approval of Hang Seng.