Mortgage relief planned for HK subsidized housing

Business | 22 Apr 2020 5:00 pm

Eddie Yue Wai-man, chief executive of the Hong Kong Monetary Authority, said there are plans to extend the mortgage principal moratorium to borrowers under the government's housing schemes.

Sixteen banks have approved over 11,000 applications by small- and middle-sized enterprises for principal moratoriums, extensions for loan repayments and emergency loans, worth over HK$86 billion  as of April 21, Yue wrote in a blog on the HKMA website.

Also, banks have approved more than 5,200 applications for mortgage loan principal moratoriums and emergency loans of more than HK$15 billion.

The HKMA has nearly completed talks with banks and related government departments to provide principal moratoriums for government-assisted mortgage loans, which will be announced shortly.

 



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