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20

Developer Mortgages Draw Hong Kong Central Bank’s Scrutiny

By Tony Seruga

Raises concern over surge in developers mortgage lending
Warning comes in wake of Sun Hung Kai Properties’ 120% loans

A jump in mortgage lending by Hong Kong developers has drawn the attention of the city’s de facto central bank, which urged greater vigilance among banks who finance property companies.

“Developers providing mortgages to home buyers will indirectly increase banks’ potential credit risks,” Hong Kong Monetary Authority Deputy Chief Executive Arthur Yuen wrote in an article posted Monday on its website. “We have been in communication with banks to study whether we will need appropriate measures to strengthen risk management over banks financing developers that provide high mortgage lending.”…

Developer Mortgages Draw Hong Kong Central Bank’s Scrutiny

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