Hong Kong to ease key mortgage insurance rule to help families cope with financial stress

Quick Summary:

New arrangement will allow homeowners to seek a waiver to rent out their flats in cases of job loss or the arrival of new babies.

Home prices have weakened more than 20 per cent from their peak over the past five years, according to government data.

Once approved, they must primarily reside in Hong Kong, and they and their spouses or cohabitants are not allowed to buy another home in the city.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong Kong

Topics: Statement Hkmc Insurance Homeowners Hong Must Programme According Cent Mortgage Kong

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-02 @ 21:30:12 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 417 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21898324

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Official Website: scmp.com

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Headquarters: Hong Kong

News Last Updated: 4 hours ago

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