Fubon Easy Life Mortgage Wealth Management Plan

Fubon Easy Life Mortgage Wealth Management Plan

Brings You Burdenless Regular Cash Inflow
Life is Really Worry-free

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Have you imagined that you can turn your property into a stream of stable cash inflow and without worrying about monthly repayment? If not, please check out the following details and you will discover a new way of managing your wealth.

What is Fubon Easy Life Mortgage Wealth Management Plan (the "Easy Life" or "Easy Life Mortgage")?


What is Fubon Easy Life Mortgage Wealth Management Plan (the "Easy Life" or "Easy Life Mortgage")?
Fubon Easy Life Mortgage Wealth Management Plan is launched by Fubon Bank with the support from the Reverse Mortgage ProgrammeΔ for homeowners aged 55 or above to use his/her/their residential property (or more than one property) in Hong Kong as security for taking out a mortgage loan. You will remain as the owner of your property and can continue to stay at your property for the rest of your life.

Δ Reverse Mortgage Programme is operated by HKMC Insurance Limited (HKMCI) which is a wholly owned subsidiary of The Hong Kong Mortgage Corporation Limited.

Key product features and benefits

Key product features and benefits
1.  Flexible payment term - You can choose to receive monthly payouts for either a fixed period of 10, 15 or 20 years or throughout your entire life according to your own needs.
 
2.  Lump-sum loan - You may apply to borrow lump-sum loan for specific purposes such as full repayment of an existing mortgage, payment for major repair and maintenance of your property and/or medical expenses.
 
3.  Residing in your own home - After taking out an Easy Life mortgage loan, you are still entitled to continue to stay in your property for the rest of your life.
 
4.  No repayment during your lifetime - You do not need to repay the outstanding loan amount you owe to us during your lifetime, unless the Easy Life mortgage loan is terminated under certain specified circumstances.
 
5.  No penalty for early full repayment - You may fully repay the outstanding loan amount and redeem your property at any time, and there is no penalty for such full repayment.
 
6.  Six-month cancellation period - If you terminate the Easy Life mortgage loan for whatever reason within the first 6 months, and repay in full the outstanding loan amount on the proposed repayment date, you will be given a refund and waiver of all mortgage insurance premiums. However, you need to repay in full the outstanding loan amount and bear the relevant legal fee.
 

Am I eligible for an Easy Life mortgage loan?

Am I eligible for an Easy Life mortgage loan? You must:
- be aged 55 or above (or aged 60 or above for owners of subsidized sale flats with unpaid land premium)^ and a holder of a valid Hong Kong Identity Card
- not be an undischarged bankrupt or otherwise subject to bankruptcy petition or individual voluntary arrangement
^ If the property is a subsidized sale flat with unpaid land premium, the borrower should be aged 60 or above according to the specific age requirement as prescribed by the Hong Kong Housing Authority or the Hong Kong Housing Society.
   
Your property must:
be a residential property in Hong Kong
- be held in your own name, or in the joint names among you and up to 2 co-borrowers as joint tenants
- 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 subsidized sale flat# imposed by the relevant authority)
- not be rented out unless with the Bank’s written approval
# For a subsidized sale flat with unpaid land premium, it must be under the Home Ownership Scheme, Private Sector Participation Scheme, Tenants Purchase Scheme and Green Form Subsidized Home Ownership Pilot Scheme of the Hong Kong Housing Authority, the Flat-For-Sale Scheme, Sandwich Class Housing Scheme and Subsidized Sale Flats Projects of the Hong Kong Housing Society, or any other subsidized housing schemes as accepted by the HKMCI from time to time.
 
The relevant terms and conditions are subject to the announcement and final approval of the HKMCI. To find out more, please visit The Hong Kong Mortgage Corporation Limited website or contact our staff.
 

Why apply with Fubon Bank?

Why apply with Fubon Bank? Apart from providing the Easy Life Mortgage and full range of professional mortgage services to you, we also go one step further to provide the following value-added service for better planning of your retirement life.
 
Fubon magi©money manager Interest-bearing Current Account
Our Fubon magi©money manager Interest-bearing Current Account combines flexibility and convenience for empowering your wealth. You can simply manage your finance with ease.
 

Simple Steps of Application

Simple Steps of Application
-
Click here for online registration  (Internet Security Tips)
(Internet Security Tips)
- Call our Mortgage Services Hotline at 2806 7222 during office hours*
 

Should you have any enquiry, please feel free to call our Mortgage Services Hotline at 2806 7222 during office hours*. We will be happy to meet with you and explain every detail to you.

 

*
Monday to Friday: 9am to 7pm; Saturday: 9am to 1pm (Except public holidays).

 

To borrow or not to borrow? Borrow only if you can repay!

 
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