Our HIBOR-linked mortgage plan provides you with greater financial flexibility by offering extensive range of fixed rate period and interest rate protection.
Unlike traditional mortgage plans that are based on Prime Lending Rate, HIBOR-linked mortgage plan uses the Hong Kong Interbank Offered Rate (HIBOR) as its basis which follows closely the interest rate market trend and customer can choose 1-month, 3-month, 6-month or 12-month fixing period according to the trends. Each of the fixed rate periods has a different corresponding HIBOR and the interest rate will be fixed and will not be influenced by any interest rate fluctuation.
Through the selection of different rate fixing period, you can be protected against interest rate fluctuation while fixed a longer period in a rising interest rate trend or enjoy lower interest rate while fixed a shorter period when interest rate predict to be volatile or moving in a download trend.
Your interest rate will be capped on a committed ceiling rate with reference to Prime Lending rate, which provides you with an extra protection. The selected HIBOR-linked mortgage rate and committed ceiling rate will be compared automatically at the interest rate fixing date and the lower rate will be used as your mortgage rate.
- Mortgage loan amount can be up to 90% of our appraised value1
- Repayment periods can be up to 30 years
- Eligible for residential properties under individual name
- Credit card annual fee waiver during the repayment periods
- Special privileges for enrolling in Platinum Home Plus Insurance Plan and Fire Building Structure Insurance
- Free property valuation service
You can maintain a fixed repayment amount throughout the whole repayment period with a stable control of your financial management.
You can increase the repayment amount annually at a fixed step-up rate during the repayment period which allows you to shorten your loan period and hence save interest expense.
You can choose to repay monthly or bi-weekly with any of the above repayment method. Less interest expense and shorter repayment period for the choice of bi-weekly repayment.
Note: Availability of the above flexi-payment options will be subject to different mortgage plans. Please contact our Customer Service Representative at any branches of OCBC Wing Hang for details.