Two more banks offer refinancing for -ve equity owners

Two more banks unveiled their new package for the refinancing of mortgage loans in negative equity, joining Wing Hang Bank (0302). CITIC Ka Wah Bank (0183) said that the lending rate for refinancing of mortgage loans can be as low as P-2%, subject to the situation of particular borrowers. Bank of America (Asia) said the lending rate is between P-1% and P-1.5% for those lendings. Wing Hang Bank will offer refinancing of mortgage loan of negative equity owners up to 100% LTV at a rate of P-1%. However, Hongkong Bank, Hang Seng Bank (0011) and Bank of China (Hong Kong) has not made any move about provision of 100% LTV refinancing.

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