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按揭利率

按揭利率 | Property PPP | Scoop.it
提供各區工商住宅、車位及成交紀錄搜尋,更為買家賣家設有按揭計算機及免費業主放盤刊登。
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Shadow looms over China’s Internet lending market (Reuters)

Shadow looms over China’s Internet lending market (Reuters) | Property PPP | Scoop.it
T's insight:

Paipaidai and Creditease

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CreditEase shines in China peer-lending market - FT.com

CreditEase shines in China peer-lending market - FT.com | Property PPP | Scoop.it
CreditEase, China’s top peer-to-peer lending website, received votes of confidence from two important constituencies at the end of 2011: Wall Street and the Communist party.
T's insight:

Why creditease in China is different from the rest

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http://realbusiness.co.uk/article/17756-6bn-gap-in-finance-for-individuals-and-organisations-outside-mainstream-finance

T's insight:

The gap in SME sector in Europe.  I belive the need of fudning of SME is even more so in China. 

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Cross-Border Yuan Lending Trial Will Involve 8-10 Banks Initially - Report - WSJ.com

Cross-Border Yuan Lending Trial Will Involve 8-10 Banks Initially - Report - WSJ.com | Property PPP | Scoop.it
T's insight:

Published in Jan, 2013

Under the program, companies registered in Qianhai--a special business zone being jointly developed by Shenzhen and Hong Kong--and have operations or investment there will be allowed to borrow yuan from Hong Kong bank

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Cross-Border Lending - The Latest Revolution?

Cross-Border Lending - The Latest Revolution? | Property PPP | Scoop.it
The 1990s was the decade of a quiet revolution - one that has fundamentally changed our lives forever.
T's insight:

Article written in 2007 on how consumers will soon be able to search the whole of the EU for the best loans and potentiall challenges, namely different privacy and debt recovery rules, and different interest rates in different countries.  - Doubt if it can happen in Asia without an EU equivalent. 

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A Trend of Cross Border P2P Lending

A Trend of Cross Border P2P Lending | Property PPP | Scoop.it
Swedish lender TrustBuddy eyes Estonia
Baltic Business News
The company offers individuals to borrow and lend money among each other, so-called peer-to-peer lending or P2P.

Via P2P Consultants
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P2P Consultants's curator insight, April 17, 2013 6:43 PM

This is an interesting example of cross border p2p lending. A Swedish p2p lendor is expanding into Poland and Estonia. It currently operates in Spain. This cross border will grow substantially in the future  reflecting the emergence of p2p lending as one of the few real innovations of recent times in the financial services area. Once the base lending platform and internal systems are set up on one country, expansion is relatively straight forward but for hiring local staff. 

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China Shadow Bankers Go Online as Peer-to-Peer Sites Boom

China Shadow Bankers Go Online as Peer-to-Peer Sites Boom | Property PPP | Scoop.it
Jack Qiu, spending evenings in front of his laptop in the southern Chinese city of Guangzhou, is earning the best returns of his life: 14.2 percent on an annualized basis in just two months.
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Peer-to-Peer lending in China 

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Tips on securing an overseas mortgage for HKers

Tips on securing an overseas mortgage     Monday, 13 August, 2012, 8:36pm  

Buyers need to seek professional advice before purchasing a home in another country as it  can be tricky, writes Elizabeth Horscroft

  

Sun and sand, or snow and skis - we all have our vision of the ideal holiday home.

 

But when you finally decide to buy it, if you are not one of the wealthy few who can pay cash outright, you will need to find a mortgage.

 

And, with such a wide range of options on offer, choosing the right one can be just as difficult and crucial as selecting the overseas property itself.

 

To take possession of the property, of course, you will have to do more than get a mortgage.

 

You will also need to follow the laws and the tax obligations that vary from country to country.

 

Experts agree that it is important to seek advice before, during and even after securing a mortgage for an overseas property.

 

Does it matter when I get the mortgage? It is possible to buy a property first and source financing later if you have enough money to fully pay for the property first.

 

However, applying in advance for a credit line and having a clear budget will save time and aid in negotiations with the vendor.

 

Can I afford it? You are positive that a condo in the mountains is a great deal and do not want to miss the opportunity to buy.

 

But how much do you have to spend?

 

Affordability is simply a matter of calculating how much you can borrow in relation to your income.

 

Each lender will have a lending limit which is a ratio of the actual loan to the price of the property, called the loan to value ratio (LTV).

 

A common LTV is now normally not more than 80 per cent of the purchase or valuation price of the property and is usually reduced for multicurrency loans, according to Barry Lea, deputy regional chief executive, Lloyds TSB Bank, International Mortgage Service.

 

This means, you will need to come up with  20 per cent of the purchase price in the form of a deposit.

 

Borrowers, who already owned property or had money on deposit, might qualify for up to 100 per cent LTV if additional suitable security was available at certain banks, Mr Lea said.

 

How do I find a mortgage provider? You can either go directly to a bank and do the legwork yourself, asking each in turn what mortgage package they can offer, or you can submit just one application to an independent financial adviser (IFA) who will shop around for you.

 

An IFA, unlike a bank, also assists throughout the life of the mortgage.

 

'Financial planners do not lend money directly,' said Jimmy Millar,  property services manager  at Financial Partners, whose company specialises in offshore financial planning and wealth management services.

 

An IFA's strength is market knowledge and ability to advise on making a mortgage choice that best suits your needs.

 

He said: 'A bank will naturally be promoting its own products.'

 

While a property consultant or IFA can point you in the right direction, word-of-mouth is probably the best way to find an overseas property mortgage lender in Hong Kong because they do not do a lot of advertising and they are not necessarily the same banks that provide mortgages for local properties.

 

Ultimately, make sure to ask if the bank has overseas mortgage facilities in Asia, or if it is merely an arm of an overseas bank.

 

'Some banks in Asia act as 'post offices' for their parent operations overseas, which may cause delays and other frustrations,' Mr Millar warned.

 

Are their hidden fees I should know about? First find an adviser or bank that has been in business for a long time and has a solid track record. However, you should still ask about the charges, which will include the solicitors' and valuation fees, plus the lender's setting up and administration fees.

 

The exact cost of the fees will vary depending on the currency, the country where the property is, the value of the property and more. However, there are some general guidelines that may help you budget. [see box]

 

'It is worth bearing in mind that the cheapest [initial fees] might not be the best over the long term,' Mr Millar said, because fees were not always straightforward.

 

'What may look like a good offer,' he warned, 'may tie you in with heavy penalties for a long time.'

 

Be aware of how the interest was calculated, he said. 'If the interest is calculated annually then you may find that the overall cost of your mortgage will be a lot higher than if the interest is calculated daily.

 

'One point to remember is that when lenders talk about solicitors' fees they are also talking about theirs, and this often comes as a surprise to clients.'

 

Some of these fees can be added to the mortgage so if you would prefer that make sure to ask.

 

For example, when purchasing, in most cases, only the lenders arrangement fees can be added, while for remortgages, most fees, bar the valuation, can generally be added.

 

Why do they keep asking about rates? The second phase of securing a mortgage begins once an IFA is selected or you negotiate directly with a bank. After completing the paperwork associated with the application process talk will focus on how you want to structure the mortgage including your preferred interest rate and currencies.

 

Considerations will include: the choice of paying the principal plus interest or interest-only, using a fixed or variable rate; the loan term; and which currency you wish to borrow in.

 

Andrew Macintosh, general manager of banking at National Australia Bank in Hong Kong,  said generally, for an overseas property investment that will have rental income, an interest-only mortgage was best. An interest-only loan means repaying capital at the end of the agreed loan term and not as part of the regular monthly or quarterly payments.

 

The theory is you can use the rent to pay the interest on the mortgage and when, hopefully, the property rises in value you can sell, pay the remaining principal and pocket the profit.

 

Of course a risk is that if the property does not appreciate or even falls then your selling price might not cover the full loan repayment.

 

Mr Lea said whether to opt for fixed or floating rates required careful consideration.

 

Even when a fixed rate ends a variable rate will need to be applied. 'While a fixed rate provides a degree of certainty and assists with cash management, many mortgage lenders offer fixed rates for one reason only, to buy your loyalty,' Mr Lea said.

 

'The fixed rate is usually set for a relatively short period in relation to the life of the loan, so you should ensure that the lender will offer a competitive variable rate mortgage at the end of the fixed rate term.'

 

With a fixed rate, if you repaid your loan within a set period you would have to pay an interest penalty typically equivalent to three months interest, but sometimes as much as 12 months interest, said Mr Lea, who called early repayment penalties on fixed rate mortgages 'crippling' and noted the average life of an offshore mortgage was only five to six years.

 

Fixed rate borrowers can potentially outsmart the market but variable interest rates have also proven to provide lower costs over the life of the loan.

 

'As the events of recent years have clearly demonstrated accurately predicting the future trend of interest rates is very difficult. Fixing rates is a gamble and, as with any form of gambling, you may win or lose,' Mr Lea said.

 

Mr Millar said negotiating interest rates would also be difficult in the present climate.

 

'Rates are low now, so unless you are borrowing a very high amount I doubt if the lenders would be happy to negotiate. At the moment, lenders are keen to offer variable rates due to the state of low interest rates. However, Australia could be the exception because it has just raised its interest rate.'

 

Large loans were those of HK$15 million and above, Mr Lea said.

 

The good thing for those willing to shop is that mortgage products in Hong Kong vary substantially based on banks' credit risk appetites and the client's finances. That is, how aggressively a bank wants new business, and whether they want market share in the part of the world where your property is.

 

This is the first of a two-part series on securing an overseas mortgage. Next week we will look at mortgage terms and currencies.

 

Fees

 

These are approximate figures.

 

Arrangement fee (administration and setting up) Calculated as a percentage of the loan amount. Non-refundable. Property in Britain, France, Spain, Portugal, Australia, Canada and New Zealand: 0.5 per cent. Property in America: 1 per cent.

 

Commitment fee Applicable to US properties only, 0.3 per cent of the loan amount. Non-refundable.

 

Legal fees Both the borrower's and the bank's legal fees, upwards of GBP500 (HK$7,664).

 

Valuation fee Generally from GBP250

 

Sales Tax (stamp duties) 1 per cent and upwards (differs between countries).

 

Communication charges and building insurance Varies depending on country where the property is.

 

Currency switching fees Vary. Normally two free switches a year.

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Risk and reward in the p2p revolution - FT.com

Risk and reward in the p2p revolution - FT.com | Property PPP | Scoop.it
What would a world without banks look like?
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T's comment, August 14, 2013 10:34 PM
relendex and lendindex - UK property online P2P business
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Central Bank Raises the Red Flag over P2P Lending Risks -

Central Bank Raises the Red Flag over P2P Lending Risks - | Property PPP | Scoop.it
PBOC surveys find host of problems with companies offering peer-to-peer loans, and some worry the transactions amount to illegal fund raising
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Crowdfunding In Europe: The Top 10 'Peer-to-Peer' Lenders

Crowdfunding In Europe: The Top 10 'Peer-to-Peer' Lenders | Property PPP | Scoop.it
The following guest post is by David Drake, founder and chairman of LDJ Capital, a New York City private equity firm, and of The Soho Loft, a global financial media company with divisions in Conferences and Publishing.
T's insight:

Top10 P2P lenders in Europe 

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East & Partners | Standard Chartered completes first cross-border RMB lending deal

East & Partners | Standard Chartered completes first cross-border RMB lending deal | Property PPP | Scoop.it
T's insight:

published in July, 2013  - 

According to the new regulation, domestic banks can directly process RMB cross-border lending business for corporate clients. 

Prior to the regulatory update, Standard Chartered China had to seek approval for a RMB denominated loan quota on behalf of client from PBoC Shanghai Branch.

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China's Online Lenders Provide Alternative To Bank Behemoths

China's Online Lenders Provide Alternative To Bank Behemoths | Property PPP | Scoop.it
Jack Ma, Alibaba founder (Image credit: AFP/Getty Images via @daylife) Online commerce has transformed retailing in China, from multinational merchandisers to self-employed resellers.
T's insight:

Mentioning of Creditese and  aggregate lending of over RMB600 billion ($98 billion) by 6000 registered micro-finance lenders at the end of 2012.

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Zidisha: Peer-to-Peer Microfinance Lending

Zidisha: Peer-to-Peer Microfinance Lending | Property PPP | Scoop.it
Zidisha Microfinance is the first peer-to-peer microlending service to offer direct interaction between lenders and borrowers across international borders.
T's insight:

Cross borader online P-toP lending 

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China Will Be Biggest P2P Market

China Will Be Biggest P2P Market | Property PPP | Scoop.it
In May of this year alone, over 2.7 billion yuan was transacted via P2P lending websites, according to a report prepared by research organization Wangdai Zhijia. Renrendai.com, one of the largest players, announced that the ...

Via P2P Consultants
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P2P Consultants's curator insight, August 11, 2013 7:26 PM

Because of the banking industry which does not make loans in general to the public, the interesitng wealth of China, China will become the biggest p2p market in the the world