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Post-loan Matters
After getting the loan / monthly subsidy, approved purchasers must make formal applications if they need to make changes to their mortgage arrangement or ownerships. Approved purchasers shall take note to the following:

Sale of Flat

Approved purchaser shall apply to the Home Assistance Loan Unit for sale of flat during the loan repayment period. He / she shall repay the outstanding loan immediately when the flat is sold. Please download the Application Form for Subsequent Changes to Loan or Subsidy (HD415).

Change of Mortgagee Bank

If the approved purchaser intends to change the mortgagee bank during the repayment period, he / she shall first approach another participating bank and obtain an initial approval from that bank. He / she shall subsequently apply to the Home Assistance Loan Unit. Upon consent, the approved purchaser shall arrange the formalities of change of bank with the two banks and is required to pay an administrative fee for change of mortgagee bank. Please download the Application Form for Subsequent Changes to Loan or Subsidy (HD415).

Approved purchasers shall take note to the following:

 
  • The new mortgage shall be a first mortgage to secure the outstanding balance of the sum advanced by the Hong Kong Housing Authority(HA) and the bank loan granted by the new bank to finance the repayment of the outstanding principal bank loan under the existing mortgage;
  • The bank loan to be granted by the new bank must be equal to the outstanding principal bank loan under the existing mortgage;
  • The number of instalments under the new mortgage shall not exceed the outstanding number of instalments under the existing mortgage;
  • Under no circumstances should the instalment to the HA be discontinued;
  • The date of execution of new mortgage shall be on the same date as the discharge of the existing mortgage.
Partial Repayment of Loan

Approved purchaser who needs to prepay part of the loan during the repayment period shall apply to the Home Assistance Loan Unit for consent. The prepayment shall be applied in repayment of the HA's loan and the bank's loan in proportion to the principal amount outstanding respectively under the HA's loan and bank's loan as at the date of prepayment. Please download the Application Form for Subsequent Changes to Loan or Subsidy (HD415).

Change of Repayment Period

Approved purchaser who needs to change of repayment period during the loan repayment period shall apply to the Home Assistance Loan Unit for consent. The repayment period for HA's loan shall not exceed the period as stipulated in the Loan Agreement, and the repayment period of bank's loan shall not exceed 20 years. Under no circumstances should the repayment period of bank's loan be shorter than the repayment period of HA's loan. Please download the Application Form for Subsequent Changes to Loan or Subsidy (HD415).

Increase Loan Amount

The HA's and bank's loan for the property should be secured by way of first mortgage which is not allowed to increase the mortgage loan amount. If necessary, approved purchaser shall apply to the Home Assistance Loan Unit. For those who have purchased a flat in the HOS Secondary Market should first apply to the relevant estate office. The additional mortgage loan amount shall be secured by way of second mortgage. Please download the Application Form for Subsequent Changes to Loan or Subsidy (HD415).

Other Application for Mortgage Alterations

Should the approved purchaser need to make any changes to the mortgage arrangement during the loan repaying or subsidy receiving period, prior approval must be obtained from the Housing Department. A fee may be payable for such applications. Please download the Application Form for Subsequent Changes to Loan or Subsidy (HD415).

Addition / Deletion of Family Members or Change of Ownership

Approved purchasers should apply to the Home Assistance Loan Unit for addition / deletion of family member upon acquiring a loan or subsidy. The HA will only accept the addition of spouse and children aged below 18. Please download the Application Form for Addition/Deletion of Family Members/ Change of Ownership Subsequent to Loan or Subsidy (HD216).

Family members aged 18 or above may apply for deletion from the HALS household register when there is need to move out from the subsidized flat. If the family member listed in the application form is a crucial member (i.e., family with two members and their relationship are not married couple), he / she will not be allowed to delete his / her name from the household register within two years from the date of execution of the Deed of Assignment in respect of the HALS-subsidized flat unless he / she is getting married or receiving housing benefit provided by the employer. Please download the Application Form for Addition/Deletion of Family Members/ Change of Ownership Subsequent to Loan or Subsidy (HD216).

Those approved purchasers who need to change the ownership during the period of repaying loan or receiving subsidy should first apply to the Home Assistance Loan Unit. For those approved purchasers who have purchased a flat in the HOS Secondary Market, they should first apply to the relevant estate office. Generally, the HA will only accept applications with special reasons, e.g. emigration of owner, permanent illness. An administrative fee is payable for such application. Please download the Application Form for Addition/Deletion of Family Members/ Change of Ownership Subsequent to Loan or Subsidy (HD216).


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