Dah Sing Bank’s mortgage approval customers should process it in advance

On Wednesday (17th), media reports stated that major banks in Hong Kong are adjusting their mortgage loan preferences and policies, including canceling cash rebates or HIBOR mortgage plans (i.e. interest rate mortgages).

Bank adjusts mortgage policy

According to the latest reports, Dah Sing Bank is strengthening its mortgage loan approval process to ensure that customers meet the loan conditions. This adjustment is nothing new and customers should be proactive about any issues that may affect their mortgage application.

Cancellation of cash rebate and HIBOR mortgage plans

In addition to Dah Sing Bank, other banks have also canceled cash rebate or HIBOR mortgage programs, which means customers may face stricter approval standards when applying for mortgages. Therefore, customers should understand the bank’s latest policies in advance to avoid delays in mortgage applications.

Customers should handle issues in advance

If clients discover that their financial situation may affect their mortgage application, they should address these issues as early as possible. This may include paying off debt, improving your credit score, or increasing your income stream to increase your chances of mortgage approval.

Pay Attention to Mortgage Application Details

When submitting a mortgage application, customers should carefully review all documents to ensure there are no errors or omissions. Any incomplete or inaccurate information may result in your mortgage application being denied.

Seek professional advice

If customers are confused about the mortgage application process, they should seek professional advice. A professional financial advisor or mortgage broker can help customers understand the application process and provide personalized advice to ensure successful mortgage approval.