The Long-missed 100% Mortgage Plan

十成按揭久違了

Squarefoot - - CONTENTS 目錄 - Stephen Or 柯興捷

十成按揭久違了

Developers have again offered 100% mortgages for new developments, attracting scores of citizens waiting to get onto the property ladder and inciting heated debates online. I have personally come across a similar opportunity that is hard to come by. During the SARS epidemic in 2003, the local economy crashed, and the real estate market hit rock bottom as a result. Prices were so unbelievable that in some cases mortgage payments would cost less than monthly rentals. The majority of Hongkongers lacked the courage to get onto the property ladder; it even became common for parents to warn their children against seriously dating partners who were paying off mortgages, for fear of ending up with shared debt after marriage. Back then, a project in Kowloon Tong, 1 Beacon Hill, was selling for only HK$6,000 per square foot yet still failed to stir up much interest. To increase buyers' confidence, the developers arranged a zero down payment plan, in other words, a true 100% mortgage plan in which buyers do not need to fork out a down payment. The intricacies of the loan were all legal, and as long as the potential buyer had the financial capability to pay on time, they can become a home owner. Unfortunately, I needed a reserve of funds to maintain normal operations in my company, thus missing out on this rare opportunity to profit without giving much, watching as acquaintance after acquaintance with daring natures and a good eye placed their bets. Sure enough, a year later, the property market recovered, aided by the mainland, and my friends won their gamble with considerable returns. Since then, I have kept a close eye on 100% mortgages, for no other special reason than also trying to be part of the group that gained without loss.

It is common knowledge that Hong Kong's property market has become rather quiet; under the looming threat of the trade war and incessant interest rate hikes, Hongkongers are having trouble finding the nerve to buy. To overcome the impasse of a stagnating market, developers have arranged a ‘Ten for Ten' mortgage plan. This sounds similar to the aforementioned 100% mortgage and calls to mind the zero down payment plan of yesteryear. Upon closer inspection however, I believe experienced investors will not subscribe to this plan. Although it includes three years of interest-free payments, buyers need to first fork out an administrative fee equivalent to 5% of the unit price. This is an unnecessary burden which would not sit well with those who already have strong finances.

My guess is that these plans mainly target younger adults who would otherwise have to rely on their parents to buy a house. As acquiring the down payment only requires a further advance on mortgage, this is a good way to resolve the issue of parents' refusal to aid. This is largely different to the 100% mortgage plan—be sure not to mix the two up!

再有發展商為新盤安排十成按揭,果然吸引了無數等候置業的市民,更在網上掀起熱烈討論。

關於十成按揭,筆者十幾年前也遇上一次難得機會,就是位於九龍塘的畢架山一號,鑑於2003年非典肆虐流行,本地經濟低迷下,縱使樓價跌至谷底,誇張到供樓平過租樓,絕大部份香港人仍然提不起勇氣置業,社會氛圍是為人父母者常提醒適婚子女不要找正在供樓的對象談婚論嫁,以免婚後全家負債。而當日畢架山一號的發售價每呎價僅6千多元,依然乏人問津,發展商為增加買家信心,便提供了零首期置業方案,即是買家不用支付首期的真正十成按揭置業計劃,貸款細節當然是合法的,故祇要買家有能力準時供款便可以成為業主,可惜當時自己需要保留資金支持公司正常運作,無奈錯過了這次無本生利的千載良機,眼睜睜看著身邊多個有冒險精神和眼光的老友果斷落注,一年後樓盤入伙之時,樓市欣逢內地自由行鼓舞重展升浪,身邊幾位好朋友紛紛成為羨煞旁人的大贏家,獲得可觀的回報。自此之後,筆者對十成按揭非常留意,無他,希望可以套用故智,成為下一批無本生利的分享者。

眾所周知,目前香港樓市陷入水靜鵝飛的市況,在貿易戰持續及連續加息的籠罩下,很多打算買樓的市民都拿不出置業的決心,發展商大概希望打破市場買賣兩閒的僵局,於是為旗下新盤安排了【十足十】按揭計劃,名稱上似乎和上文提及的十成按揭類同, 令人聯想同屬零首期方案,然而筆者細看內容,卻相信資深投資者不會採用,原因雖然說首3年免息供款,但買方卻要先支付一筆相等樓價5%的行政費,增加了不必要的投資成本,故有實力的置業人士多數不會有興趣採用。

筆者猜測有關計劃主要是協助借助父幹的年輕人置業,由於使用該計劃不須父輩額外掏錢,祇通過加按現契樓取得首期,因此可以說是化解父輩拒伸援手協助置業的妙計,該計劃實在和前述的十成按揭計劃大相逕庭,大家不要錯把馮京當馬涼啊!

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