Special interest home mortgage arrangement
Authors
Citation
Building journal Hong Kong China, Apr, 1990, pp. 70-71
Abstract
In carrying out its appointed task of redeveloping designated urban area sites requiring regeneration or renewal of housing, environment and community and recreational facilities, the Land Development Corporation (LDC) must inevitably uproot people from their homes in buildings selected to be demolished to make way for replacement structures or new facilities.
People so displaced have several compensatory options, including cash compensation and/or rehousing, with many choosing to buy a new home elsewhere. However, some cannot make such purchases due to financial constraints, so that the LDC, with the Bank of China, Bank of East Asia, Dah Sing Bank and the Kincheng Banking Corp, devised the Special Interest Rate Home Purchase Arrangement scheme, by which eligible individuals acquire such properties by making use of its very favourable mortgage terms.
(1) Cash settlement
(2) Rental tenants
Description
Subject
Type
Article
Format
Date
1990
Language
en