HKMC enhances Reverse Mortgage Programme and launches Green Promotion

Source: Hong Kong Government special administrative region

HKMC enhances Reverse Mortgage Programme and launches Green Promotion
1. Enhancement to the Reverse Mortgage Programme (RMP) (Note 1)
Example: A single borrower selecting life payment term

Fixed-rate mortgage plan under the RMP
Monthly payout amount (per HK$1 million of specified property value)(Interest rate of 4.5 per cent p.a. for the first 30 years and P (Note 2) minus 2 per cent p.a. thereafter)(Interest rate of 4 per cent p.a. for the first 30 years and P minus 2 per cent p.a. thereafter)2. Green Promotion

To foster the development of green buildings and properties in contributing to a sustainable future for Hong Kong, the HKMC will launch a promotion from March 17 to December 31, 2026, encouraging the public to use a property with “BEAM Plus” rating (Note 3) to apply for the RMP, the Mortgage Insurance Programme (MIP) (Note4) and the Fixed Rate Mortgage Scheme. A one-off cash incentive will be provided under the Green Promotion, with a brief introduction as follows:

Programme(non-MIP loans)     The Executive Director and Chief Executive Officer of the HKMC, Mr Colin Pou, said, “We are pleased that the proceeds from the social bonds issued last year can be used to support the RMP, lowering the interest rate and providing higher monthly payouts to the retirees in need. This initiative promotes the development of the local retirement planning market and contributes to the silver economy. At the same time, through the implementation of the Green Promotion, the HKMC encourages the public to support green buildings, which helps foster a green culture and bring a positive impact to the environment.”

     For enquiries about the RMP, please call the HKMC Retire 3 Hotline at 2536 0833. For details of the Green Promotion, information will be available on the HKMC website (www.hkmc.com.hkIssued at HKT 17:00

NNNN