/* Quick Reference */
/* global variables */
var w;
var validation = false;
var mip_allow = true;
var n = 4;
var q = new Array(n);
q[0] = "What type of property is to be purchased?";
q[1] = "Would the homebuyer occupy the property as his/her primary residence?";
q[2] = "What is the employment type of the homebuyer?";
q[3] = "What is the Loan-to-Value (LTV) ratio the homebuyer requested?";
var o = new Array(n);
o[0] = new Array('Private property for residential use', 'Village house (except "Tso", "Tong" and small village house with alienation restriction)');
o[1] = new Array('Yes', 'No');
o[2] = new Array('Regular salaried employee', 'Self-employed person', 'Non-regular salaried employee');
// WWW0021 o[3] = new Array('85% or below', 'Between 85% and 90%', 'Between 90% and 95%'); // 2008/12/29, EN
o[3] = new Array('85% or below', 'Between 85% and 90%'); // WWW0021
var a = new Array(n);
var MSG_INVALID_MIP = 'Not eligible under the Mortgage Insurance Programme';
// 2008/12/29, EN
var MSG_HOMEBUYER_HEADER='Homebuyer';
var MSG_ELIGIBLITY_HEADER = 'Eligible under the Mortgage Insurance Programme';
var MSG_ELIGIBLE_PROPERTY_HEADER = 'Eligible Property';
var MSG_USE_OF_PROPERTY_HEADER = 'Use of Property';
var MSG_BORROWER_TYPE_HEADER = 'Borrower Type';
var MSG_MIN_LTV_THRESHOLD_HEADER = 'Min. LTV Threshold';
var MSG_MAX_PROP_VALUE_HEADER = 'Max. Property Value'; // WWW0022
var MSG_MAX_LOAN_SIZE_HEADER = 'Max. Loan Size';
var MSG_MAX_DTI_HEADER = 'Max. Debt-to-Income Ratio';
var MSG_MAX_LOAN_TENOR_HEADER = 'Max. Loan Tenor';
var MSG_ELIGIBLE_PROP_W_EM = 'Completed properties, properties under construction and refinanced mortgages';
var MSG_ELIGIBLE_PROP_WO_EM = 'Completed properties and refinanced mortgages';
var MSG_OOC_PROP = 'Owner-occupied';
var MSG_NON_OOC_PROP = 'Non Owner-occupied';
var MSG_BORROWER_TYPE_PERSONAL = 'Personal Customers';
var MSG_BORROWER_TYPE_PERSONAL_COMPANY = 'Personal Customers and Shelf Companies';
var MSG_LTV_60 = '60%';
var MSG_LTV_70 = '70%';
var MSG_PROP_VALUE_6M = 'HK$6 million'; // WWW0024
var MSG_PROP_VALUE_6_8M = 'HK$6.8 million'; // WWW0022
var MSG_PROP_VALUE_COND = ' (Pursuant to the purchase price of the Property as stated in the sale and purchase agreement. For refinancing loans, the property value shall be the appraised value of the Property, if applicable.)'; // WWW0022
var MSG_LOAN_SIZE_5M = 'HK$5 million';
var MSG_LOAN_SIZE_5_4M = 'HK$5.4 million'; // WWW0024
var MSG_LOAN_SIZE_6M = 'HK$6 million'; // WWW0017
var MSG_LOAN_SIZE_6_12M = 'HK$6.12 million'; // WWW0022
var MSG_LOAN_SIZE_7_2M = 'HK$7.2 million';
var MSG_LOAN_SIZE_5M_LTV60 = 'HK$5 million if LTV Threshold is lower than 70% of Value at Origination'; // WWW0024
var MSG_LOAN_SIZE_6M_LTV60 = 'HK$6 million if LTV Threshold is lower than 70% of Value at Origination'; // WWW0017
var MSG_LOAN_SIZE_7_2M_LTV60 = 'HK$7.2 million if LTV Threshold is lower than 70% of Value at Origination';
var MSG_LOAN_SIZE_12M = 'HK$12 million';
var MSG_LOAN_SIZE_6M_COND = ' (may consider up to HK$6 million, on a case-by-case basis)'; // WWW0017
var MSG_LOAN_SIZE_7_2M_COND = ' (may consider up to HK$7.2 million, on a case-by-case basis)';
var MSG_LOAN_SIZE_5M_5_4M_COND = ' (may consider up to HK$5.4 million or up to HK$5 million if LTV Threshold is lower than 70% of Value at Origination, on a case-by-case basis)'; // WWW0024
var MSG_LOAN_SIZE_6M_6_12M_COND = ' (may consider up to HK$6.12 million or up to HK$6 million if LTV Threshold is lower than 70% of Value at Origination, on a case-by-case basis)'; // WWW0022
var MSG_LOAN_SIZE_6M_7_2M_COND = ' (may consider up to HK$7.2 million or up to HK$6 million if LTV Threshold is lower than 70% of Value at Origination, on a case-by-case basis)'; // WWW0021
var MSG_LOAN_SIZE_6M_12M_COND = ' (may consider up to HK$12 million or up to HK$6 million if LTV Threshold is lower than 70% of Value at Origination, on a case-by-case basis)'; // WWW0017
var MSG_LOAN_SIZE_7_2M_20M_COND = ' (may consider up to HK$20 million or up to HK$7.2 million if LTV Threshold is lower than 70% of Value at Origination, on a case-by-case basis)';
var MSG_LOAN_SIZE_20M_COND = ' (may consider up to HK$20 million, on a case-by-case basis)';
var MSG_DTI_45 = '45%';
var MSG_DTI_50 = '50%';
var MSG_DTI_60 = '60%';
var MSG_DTI_HIGH_INCOME_EARNER_COND = ' (for high income earner)';
var MSG_DTI_45_COND = ' (For self-employed (non-professional) Obligor if the LTV ratio is above 85%)'; // WWW0021
var MSG_DTI_60_COND = ' (for high income earner, may consider up to 60%, on a case-by-case basis)';
var MSG_LOAN_TENOR_30 = '30 years';
var MSG_LOAN_TENOR_40 = '40 years';
var MSG_LIST_OF_INCOME_PROOF = 'List of Required Income Proof';
var invalidMIP = false;
// End 2008/12/29
function checkOption(q, o) {
mips_allow = true; /* 2007/12/03, EN */
/* update by Joe Li, CL2 Limited, at 3 Mar 2006 */
/* 2007/12/03, EN
if (q == 1 && o != 0) {
mip_allow = false;
alert(MSG_INVALID_MIP);
} else if (q == 0 || q == 1) {
mip_allow = true;
}
*/
/*
if ((q == 0 && o != 0) || (q == 1 && o != 0)) {
mip_allow = false;
alert(MSG_INVALID_MIP);
} else if (q == 0 || q == 1) {
mip_allow = true;
}
*/
}
function freset(f) {
mip_allow = true;
f.reset();
}
function createQuestions() {
var j;
for (var i = 0; i < q.length; i++) {
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}
}
function writeNote(d) {
with (d) {
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Note
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/*EL on 2008/03/28: writeln('
The maximum loan size for deferred principal repayment loan is HK$ 5 million. (Not applicable to Non Owner-occupied Residential Properties)
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/* WWW0024, WWW0025*/
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The MIP will not be available to applicants whose income is derived mainly from outside Hong Kong unless they can demonstrate that they have a close connection with Hong Kong (Note).
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writeln('Note: For the purpose of processing MIP applications, any application with applicant(s) currently working outside Hong Kong (hereinafter "Overseas Income Applicant(s)") and contributing over 50% of the verified household income (of the application) will not be accepted unless the applicant can provide any one of the following documents:');
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Justification with documentary proof, subject to the HKMC's satisfaction, showing the employment relationship of the Overseas Income Applicant and a local employer;
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Declaration from the Overseas Income Applicant confirming his/her immediate family member (spouse, parents and descendants only) is residing in Hong Kong.
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/* WWW0024, WWW0025 */
if (a[0] == 0) { /* 2007/12/03, EN */
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For properties under construction: -
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The property development project must be covered by the Consent Scheme;
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The property development project must be scheduled for completion within 12 months from the Loan Drawdown Date, i.e. the Building Completion Date* must be within 12 months from the Loan Drawdown Date;
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The property must not be purchased from a confirmer in a sub-sale and purchase transaction; and
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The homebuyer must have paid on or before the Drawdown Date all stamp duty payable on such Formal Sale and Purchase Agreement.
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* Building Completion Date means the original date specified in the relevant Formal Sale and Purchase Agreement as the date on which construction of the building comprising the relevant residential property is to be completed in all respects in compliance with the conditions of the Government grant and the approved building plans, without regard to any extension of time by the Authorized Person.
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} /* 2007/12/03, EN */
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}
function writeRequireDocument(d) {
with (d) {
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List of Required Documents
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A copy of Hong Kong Identity Card;
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A copy of provisional sales and purchase agreement (if available);
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Income Proof (see below)
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For refinancing case
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Repayment history for the last 6 months;
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The most recent loan repayment statement showing outstanding principal balance;
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Owner occupancy proof, as and when necessary
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}
function writeRegular(d) {
with (d) {
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For Regular Salaried Employee
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bank book / statement showing salary deposits clearly earmarked for the last 3 months; plus
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Any one of the following documents:
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the most recent tax demand note issued by the Inland Revenue Department;
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letter from the employer (issued on the company letterhead / bearing company chop and signed by the authorised person with his name and position stated) confirming job title and income details; and
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the most recent salary payroll slip with the employer's name and evidence of payment thereof into a bank account of the Obligor.
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function writeSelfEmploy(d) {
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For Self-employed Person^
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All the following documents:
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a valid Business Registration Certificate;
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a valid practising certificate or similar document issued by the relevant professional body (in respect of professional person only); plus
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the following documents:');
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the latest tax demand note issued by the Inland Revenue Department;
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company and obligor's bank book / statement showing the average net cash-flow for the last 6 months; and
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the most recent audited financial statements of the business carried on by the Obligor. For Obligor who is a sole-proprietor, 100% of the profit before tax will be taken into account. For Obligor conducting the business through a partnership or a limited company, the amount of profit before tax to be taken into account will be apportioned in accordance with the Obligor's beneficial interest in such partnership / limited company.
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^ For Obligor who is a self-employed and non-professional person, the audited financial statements (if applicable) and tax demand notes issued by the Inland Revenue Department for the last 2 years, as well as proof of the establishment of his business for a minimum period of 3 years, are required.
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function writeNonRegular(d) {
with (d) {
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For Non-regular Salaried Employee
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bank book / statement showing salary deposits clearly earmarked for the last 6 months; plus
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Any one of the following documents:
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the most recent tax demand note issued by the Inland Revenue Department; and
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the most recent salary payroll slip with the employer's name and evidence of payment thereof into a bank account of the Obligor for the last 6 months.
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function writeLinks(d) {
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}
function writeCopyright(d) {
d.write('
This Quick Reference Guide is for reference purposes only. Please refer to Operational Manual of the HKMC's Mortgage Insurance Programme (MIP) for the full terms and requirements of the MIP. In the event of any conflict between the Operational Manual and this Guide, the Operational Manual shall prevail. In the event of any conflict between the English version of this Guide and the Chinese version, the English version shall prevail.
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