Straight2Bank
Steps to Buying a Home
Follow these 6 steps to complete your home purchase journey.
Step 1: Find out about current mortgage policies
Find out current policies affecting the property market, so you can plan your budget better before buying a property.
What is the maximum Loan-To-Value allowed?
1.If you want to borrow up to 70% of the property value :
TYPES OF PROPERTIES | PROPERTY PRICE | MAXIMUM LOAN-TO-VALUE(LTV) |
|---|---|---|
| Self-use Residential Properties | Applicable to all property price | 70% |
| Non self-use Residential Properties | Applicable to all property price | 70% |
2. If you want to borrow up to 90% of the property value under the Up to 90% Mortgage Plan:
Existing MIP#
| PROPERTIES PRICE | MAXIMUM LOAN-TO VALUE(LTV) FOR HOME PURCHASE |
|---|---|
| HK$4,000,000 or below | 90%* |
| HK$4,000,001 – HK$4,499,999 | 80% – 90%* (Maximum HK$3,600,000) |
| HK$4,500,000 – HK$6,000,000 | 80% |
* Mortgage Loan exceeding 80% LTV ratio under Mortgage Insurance Programme is only applicable to regular salaried first time homebuyers (not holding any properties at the time of application) with debt-to-income ratio up to 50% and subject to relevant guidelines and final approval.
#Applicable for both residential properties under construction and completed residential properties and provisional S&P date signed before 22 September 2023.
New Coverage #
PROPERTY VALUE | >HK$4M and ≤HKD10M | >HK$10M and ≤HKD11.25M | >HK$11.25M and ≤HKD15M | >HK$15M and ≤HKD17.15M | >HK$17.15M |
|---|---|---|---|---|---|
| Maximum Loan-to-value (LTV) ratio | 90%* | LTV 80-90%* (Maximum HK$9,000,000) | LTV 80% | LTV 70-80% cap (Maximum HK$12,000,000) | LTV 70% |
| First-time homebuyer | Required | Not Required | |||
| Regular Income | Required | Not Required | |||
* Mortgage Loan exceeding 80% LTV ratio under Mortgage Insurance Programme is only applicable to regular salaried first time homebuyers (not holding any properties at the time of application) with debt-to-income ratio up to 50% and subject to relevant guidelines and final approval.
# If the provisional S&P is signed on or after 22 September 2023, both completed residential properties and residential properties under construction are applicable for the MIP under new coverage.
How much government stamp duty do I need to pay on property sales or transfers?
New Residential Stamp Duty (“NRSD”)
Under the 2024 Amendment Ordinance, any instrument executed on or after 28 February 2024 for the sale and purchase or transfer of residential property is no longer subject to New Residential Stamp Duty (“NRSD”).
Buyer’s Stamp Duty (“BSD”)
Under the 2024 Amendment Ordinance, any instrument executed on or after 28 February 2024 for the sale and purchase or transfer of residential property is no longer subject to the Buyer’s Stamp Duty (“BSD”).
Special Stamp Duty (“SSD”)
Under the 2024 Amendment Ordinance, any instrument executed on or after 28 February 2024 for the sale and purchase or transfer of residential property is no longer subject to SSD.
The newly revised SSD is applicable for the following period:
| HOLDING PERIOD OF THE PROPERTY BY THE SELLER OR TRANSFER BEFORE DISPOSAL | THE PROPERTY WAS ACQUIRED ON OR AFTER 20 NOVEMBER 2010 AND BEFORE 27 OCTOBER 2012 | THE PROPERTY WAS ACQUIRED ON OR AFTER 27 OCTOBER 2012 AND DISPOSED OF BEFORE 25 OCTOBER 2023 | THE PROPERTY WAS ACQUIRED ON OR AFTER 27 OCTOBER 2012 AND DISPOSED OF ON OR AFTER 25 OCTOBER 2023 BUT BEFORE 28 FEBRUARY 2024 |
|---|---|---|---|
| 6 months or less | 15% | 20% | 20% |
| More than 6 months but for 12 months or less | 10% | 15% | 15% |
| More than 12 months but for 24 months or less | 5% | 10% | 10% |
| More than 24 months but for 36 months or less | – | 10% | – |
The above-mentioned amendments to the "Stamp Duty Ordinance" are based on the policy address published on 26 February 2025 and the Inland Revenue Department. The revised relevant tax rates have come into effect on the same day.
