HK$1.8b of home mortgages in negative equity
Local | 31 Jan 2019 4:54 pmThe aggregate value of home mortgage loans in negative equity at end-December added up to HK$1.18 billion and the unsecured portion of these loans amounted to HK$58 million, the Hong Kong Monetary Authority announced today.
There were 262 cases of home mortgage loans in negative equity, the HKMA said.
This was the first time the surveyed authorized institutions reported negative equity cases since end-December 2016. These cases were related to bank staff housing loans or residential mortgage loans under mortgage insurance program, which have higher loan-to-value ratios, the HKMA said.
