Reverse Mortgage Programme

Live the Retirement Dream with a Smile

The Reverse Mortgage Programme is operated by HKMC Insurance Limited (HKMCI), a wholly-owned subsidiary of The Hong Kong Mortgage Corporation Limited (HKMC), which enables people aged 55 or above to use their residential properties in Hong Kong as security to obtain reverse mortgage loans.

  • "Reverse Mortgage"1 Key Product Features
  • Eligibility Criteria

Flexible payment term

Borrowers may choose between floating - rate or fixed rate mortgage plans, monthly payouts over a fixed period of 10, 15 or 20 years or throughout the borrower’s entire life. For more information about the Reverse Mortgage Programme, please click here to visit The Hong Kong Mortgage Corporation Limited website.

Lump-sum payout

Lump-sum payouts can be applied for at the time of reverse mortgage loan application and/or any time during the selected payment term to suit the borrower’s personal needs.

Flexible arrangement to rent out property

Mortgaged property can be rented out under specific circumstances for a higher income.

Lifetime home residence

Property owner is entitled to stay in the property for the rest of his life, even after the payment term (10, 15 or 20 years) is due. However, interest and mortgage insurance premium will be posted to the outstanding loan amount.

No repayment during lifetime

No repayment of outstanding loan amount is required during the borrower’s lifetime, unless the reverse mortgage loan is terminated under specific circumstances.

No penalty for early repayment of loan

Full repayment of reverse mortgage loan and redemption of mortgaged property can be made at any time without penalty.

Six-month cooling-off period

If a reverse mortgage loan is terminated for whatever reason within the first 6 months, a refund and waiver of mortgage insurance premiums will be given. However, the borrower is still required to bear the accrued interest, financed fees (if any) and the relevant fees in relation to the termination of the reverse mortgage loan.
Joint application for a reverse mortgage loan by up to three borrowers is allowed.
In general, the borrower and the property offered as security must:
The borrower must:
  • be aged 55 or above (aged 60 or above for owners of subsidised sale flat with unpaid land premium) and a holder of valid Hong Kong Identity Card
  • not be an undischarged bankrupt or otherwise subject to bankruptcy petition or individual voluntary arrangement (except if the indebtedness under the relevant individual voluntary arrangement is to be repaid in full at closing by way of lump-sum payout).
The property offered as security property must:
  • be a residential property in Hong Kong (property acquired by deed of gift may be considered);
  • be owned by:

    (i) the borrower as sole and beneficial owner or as joint tenants (if there is more than one borrower); or

    (ii) a limited company, incorporated in Hong Kong, wholly and directly owned by the borrower (or if there is more than one borrower, all borrowers);

  • not exceed 50 years of age (otherwise it will be considered on a case-by-case basis);
  • not be subject to any resale restrictions (except for the alienation restriction of subsidised sale flats imposed by the relevant authority provided written consent from the relevant authority is obtained); and
  • not be rented out.

    (The borrower may apply to rent out the mortgaged property if it has been owned for at least one year and all the borrowers have:

    (i) declared that they have retired; or

    (ii) moved out to obtain elderly or medical care.

    If the property is a subsidised sale flat with unpaid land premium, the borrower must obtain consent from the relevant authority, in addition to the above requirement of property ownership.)

To find out more, Pls contact our Mortgage Sales Staff at 3918-6655.
  1. The Reverse Mortgage Programme is operated by HKMC Insurance Limited (HKMCI), a wholly-owned subsidiary of The Hong Kong Mortgage Corporation Limited. Mortgage loans will only be offered to customers who meet the eligibility criteria for the Reverse Mortgage Programme set out by HKMCI from time to time. The relevant terms and conditions are subject to the announcement and final approval of HKMCI.


Enquiry Hotline : 3918 6655

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