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Pan Asian's management share their professional viewpoints on a variety of topics related to Hong Kong's mortgage market and the financial services industry, read more to browse on their publications
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SMART1 January 2009 Securities Report released
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Pan Asian Mortgage Company Limited ("Pan Asian") today announced the launch of the 99.9% LTV Mortgage Enhanced Program ("the 99.9% Enhanced Program") in partnership with Centaline Mortgage Service Company Limited ("Centaline"). The 99.9% Enhanced Program offers more favorable mortgage rates of Prime - 2.8% for the first year and thereafter Prime - 2.6%, in addition to a LTV mortgage of 95% and financing of the related transaction costs including: stamp duty, solicitor fee, property agency fee and Program Participation Fee (as part of the mortgage loan for a total LTV of up to 99.9% of the property purchase price). Each of the first one hundred (100) successful borrowers applying before 25 June 2005 and drawdown before 25 July 2005 will be awarded an Apple iPod Photo as a complimentary gift.
Since launching the 99.9% LTV Mortgage Program in February 2005, Pan Asian has received encouraging response from the market, with more than 550 enquiries about the program resulting in over 70 successful applications.
"The feedback we have received shows that there is a real demand for higher LTV products in the market. As an innovative financial services provider, Pan Asian is committed to offering creative financial products that provide flexibility and convenience to meet homebuyers' financing needs. In this context, we are excited about this co-operative launch with Centaline of this flexible mortgage product with a lower concessionary interest rate," said Leland Sun, Pan Asian's Chief Executive Officer.
The 95 Plus Program provides a one-stop mortgage service solution to both primary and secondary property markets. The loan amount acceptable under the Program ranges from $800,000 to $12 million. The loan tenure available is up to 30 years. The Program accepts individuals (including self-employed borrowers) and shell companies as borrowers and requires the property to be owner-occupied. There are no limits on the sum of age of property and loan tenure, or the sum of age of borrower and loan tenure. Pan Asian will consider the merits of each application on a case-by-case basis. The Program also accepts non-cash out mortgage refinancing.
"The launch of the 99.9% Enhanced Program stands testimony to our successful and ongoing collaboration with Pan Asian. We believe that the 99.9% LTV mortgage program will provide an option for potential homebuyers who wish to enjoy flexible financial arrangements," said Mr. Alex Tang, Managing Director, Centaline Property Agency Limited.
About Pan Asian Mortgage Company Limited
Pan Asian is an innovative financial services company breaking new ground in asset securitization in Asia. It is involved in the financing, structuring, servicing and securitization of residential mortgages, credit card and consumer loan receivables. Founded in 2000, the company comprises a team of financial experts with unparalleled experience in real estate finance, asset and mortgage securitization in Asia, risk management, structured finance, international debt capital markets and local market funding.
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