As the president of a trading company operating in Mainland China and Hong Kong , Mr Hui was eager to use his property in Hong Kong for a second mortgage to fund the completion of property transaction in France.
Mr Hui approached several large local banks and mortgage lending companies within a week. However, many of them did not reply him. Even though one of them granted a loan to him, the approved loan amount was far below his expectations.
While the completion date was around the corner, Mr Hui learned from his friend that Sun Hung Kai Credit has no cap on the loan amount. He decided to contact Sun Hung Kai Credit to secure a considerable loan without further delay.
Sun Hung Kai Credit based on Mr. Wong’s company operations, deducting expenses from the annual dividends received, to estimate his annual income as RMB 100 million with an average monthly income as about HKD10 million.
The property for second mortgage was a 3-storey detached house under his name. According to the assessment made by the professional mortgage specialist from Sun Hung Kai Credit, the approved loan is about HKD15 million at 13% interest p.a. for a loan period of two years with interest only mortgage plan.
This loan approval was completed within just two working days, which enabled Mr Hui to complete the overseas property transaction successfully grasping the investment opportunity.
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