Wing Fung Credit Limited

Mortgage Loan Services

Second Mortgage

By mortgaging the same property, home owners can apply for a second mortgage up to 80%
No handling fee, legal fee and valuation fee
Repayment terms up to 10 years or payment of interest only in the first 3 years are both available
No need to settle the existing 1st mortgage loans; No title deed is needed and the approved loan can be withdrew on the same day
Borrow and repay at any time to facilitate flexible use of funds
In the event of insufficient down payment or the bank undervalues the properties, we can simultaneously provide a second mortgage on the day of the property transaction to assist the owner completes the transaction easily

Note:

The repayment term, monthly repayments, interest rate and other conditions are subject to final approval and Wing Fung Credit Limited reserves the right to review and approve the loan amount, term and interest rate.
In accordance with the Money Lenders Ordinance, the annualized percentage rate does not exceed 48%. The final personalized interest rate varies according to the customer’s financial position. Flexible repayment tenor from 3 months up to 120 months. Calculated and based on a loan amount of HK$10,000 with annualized percentage rate of 8% and repayment period of 12 months, the monthly instalment is HK$870. The total repayment amount is HK$10,440 and the total interest of the loan is HK$440.