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HK's mortgage lenders doing booming business in the shadows

This comes as traditional financing dries up and property prices surge to record highs

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When Horan Fu decided to buy a 500 square foot apartment for HK$7.4 million (S$1.3 million) last year, the biggest draw was the developer's offer of 85 per cent financing with an option to defer interest payments for the first three years.

Hong Kong

WHEN Horan Fu decided to buy a 500 square foot apartment for HK$7.4 million (S$1.3 million) last year, the biggest draw was the developer's offer of 85 per cent financing with an option to defer interest payments for the first three years.

"The interest rate could be a

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