In light of the technical adjustments made by the Hong Kong Monetary Authority (HKMA) on 14 June to the countercyclical macroprudential measures announced on 28 February 2024 and other related supervisory requirements, HKMC Insurance Limited (HKMCI) announces that the applicability of the current eligibility criteria1 of the Mortgage Insurance Programme (MIP) will be correspondingly broadened to all mortgage insurance applications for owner-occupied residential properties in the primary market, irrespective of the execution dates of the relevant provisional sale and purchase agreements. The adjustment takes immediate effect.
Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/06/20240614-6/