(Central station) With no bank account, Carrie Lam to face problems with flat purchase

Carrie Lam Cheng Yuet-ngor will be facing difficulties as a normal citizen after she finishes her Chief Executive term this June.

After she steps down, Lam will continue to receive protection by bodyguards. She will have a former CE office, and a driver will serve her. But the list of benefits does not include residence.

Therefore, the first task for Lam after her retirement from government service will be to find a new home after she moves away from the Government House. But she will face problems in home purchase due to sanctions imposed by the United States.

The US government has announced sanctioning banks which serve Lam and a list of Hong Kong and mainland officials involved in the implementation of the national security law in the city. After that, Lam is left without bank accounts and no credit cards.

According to previous declarations, Lam and her husband Lam Siu-por does not own any properties in Hong Kong. If she decides to buy a new flat, she will not be able to get any mortgage without a bank account.

In case she goes with cash, she will have to prepare a huge pile of banknotes, given properties cost at least several million HK dollars.

An alternative is for the family to live elsewhere. Lam Siu-por owns a residential flat in Zhongshan city, Guangdong province, according to declarations made earlier.