Self-employed person & requested for a 60% or below mortgage plan

Required documents for Self-employed person (Sole proprietorship & partnership) of borrower and guarantor

1. Copy of Hong Kong Identity Card/ Passport
2. The latest proof of home address
3. Prelim (Preliminary Agreement for Sale and Purchase)
4. Valid Business Registration
5. Practicing Certificates (for professionals)
6. Latest tax demand note
7. Latest audited financial statements (If any)
8. Bank book / statements showing average net capital flow for the past six months
9. Bank book / statements showing personal capital flow for the past six months

Required documents for Self-employed person (Limited Company) of borrower and guarantor

1. Copy of Hong Kong Identity Card/ Passport
2. The latest proof of home address
3. Prelim (Preliminary Agreement for Sale and Purchase)
4. Valid Business Registration
5. Certificate of Incorporation
6. List of Directors / Shareholders
7. Tax demand note for past two years
8. Company audited financial statements for the past three years
9. Bank book / statements showing average net capital flow for the past six months
10. Bank book / statements showing personal capital flow for the past six months
11. Income proof of director and shareholder (same as those for fixed-income & non-fixed income)

1. The sum of age of borrower and loan tenor: Bank will usually specify that the sum of age of borrower and loan tenor should not exceed 75 years, while loan tenor should not exceed 30 years.
   3.3.2 The sum of property age and loan tenor: Bank will usually specify that the sum of property age and loan tenor should not exceed 75 years, while loan tenor should not exceed 30 years. (Remarks：For Village House Mortgage, the maximum sum of “Original/ Remaining Term To Maturity” and “Age of Property” should not exceed 55 years , while loan tenor should not exceed 30 years.)

2. The sum of property age and loan tenor: Bank will usually specify that the sum of property age and loan tenor should not exceed 75 years, while loan tenor should not exceed 30 years. (Remarks：For Village House Mortgage, the maximum sum of “Original/ Remaining Term To Maturity” and “Age of Property” should not exceed 55 years , while loan tenor should not exceed 30 years.)

3. Debt-to-Income ratio (DTI): The limit on DTI of the total monthly repayment amount for the borrower should not exceed 50% of total income per month, and banks should stress-test mortgage applicants’ repayment ability, assuming an increase in mortgage rates of at least three percentage points, and limit the stressed DTI to a cap of 60%.