BOCHK extends the promotion of HIBOR mortgage scheme to 30 September 2006
Bank of China (Hong Kong) Limited (”BOCHK”) today announced that the promotional period of its HIBOR Mortgage Scheme, launched since late March, will be extended to 30 September 2006 due to the overwhelming response of customers. Based on the 1-month Hong Kong Interbank Offered Rate (HIBOR), the interest rate of this scheme is set at HIBOR plus 0.7%, with a ceiling rate of prime lending rate minus 2.75% (P-2.75%).
Taking the 1-month HIBOR on 28 June 2006 (4.27301%) as an example, the mortgage rate is only 4.97301%. BOCHK’s HIBOR Mortgage Scheme is applicable to primary, secondary or refinancing residential properties. Upon successful application, customers are eligible to enjoy a host of preferential terms and offers, including mortgage loan amount up to 95% of the appraised value or transaction amount of the property*, repayment period of up to 30 years, waiver of BOC Credit Card annual fee throughout the mortgage period and waiver of fire insurance premium for the second year. From now until 30 September 2006, successful applicants who drawdown the mortgage loan on or before 31 October 2006 are entitled to receive both cash rebate and red packet. For details, please call our Mortgage Hotline at (852) 3669 3233 or visit any branches of BOCHK. *Whichever is lower. The loan portion in excess of 70% will be arranged through the Mortgage Insurance Program. –www.theasianbanker.com (June 29 2006)–