If you’re a Hong Kong citizen or a permanent resident foreigner, you can sometimes apply for a so called overseas mortgage.
The mortgages are designed to let you finance a property outside of Hong Kong, often you have the first contact with a bank in Hong Kong and you later transfer to a branch in the country where you intend to buy. They sometimes even help you to fill out the application, before the transfer is made.
It’s not easy to find summarized about the banks that offer overseas mortgages (at least in comparison to Singapore), how much you can borrow and what conditions that apply. Therefore, I decided to do some research on my own and to write this article.
I’ve personally been in contact with a number of banks and with branches in Hong Kong (and the UK) to understand what overseas mortgages they offer. Let’s have a look.
1. BOC (Bank of China)
Bank of China, sometimes referred to as BOC, is one of the top four commercial banks in China. It opened its first Hong Kong branch in 1917 and has become one of the major players.