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The Hong Kong Mortgage Corporation Limited

Fixed Rate Mortgage Scheme

The Hong Kong Mortgage Corporation Limited (HKMC) has introduced a scheme for fixed-rate mortgages for 10, 15 and 20 years. It aims to provide an alternative financing option to homebuyers for mitigating their risks arising from interest rate volatility, thereby enhancing banking stability in the long run. These mortgage loans can be with or without mortgage insurance under the Mortgage Insurance Programme.


The maximum loan amount of each residential mortgage is HK$10 million. At the end of the fixed-rate period, the borrowers may either re-fix the mortgage rate under the fixed-rate mortgages or convert the mortgage to a floating-rate loan. The interest rates per annum and other details of the fixed-rate mortgages1 are as follows:


Fixed-rate PeriodGross Mortgage Rate (GMR)

Full / Partial Prepayment Penalty

(% of the prepaid amount)
 Application Period Drawdown Period 
Fixed Interest RateGMR after the Fixed-rate Period
10-year  4.99%

The then prevailing fixed mortgage rate


The applicable floating mortgage rate2


1st year: 3%

2nd year: 2%

3rd year: 1%

From 3 Oct 2023 until further notice

Within 2 months upon receipt of application by the bank



  1. For the applicable premium rate under the Mortgage Insurance Programme, please refer to Premium Rate Sheet (applicable for provisional agreements for sale and purchase executed on or after 7 July 2023).
  2. The applicable floating mortgage rate is stated on the facility letter for the borrower. For reference, the current floating mortgage rate is the Hong Kong Prime Rate minus 2.35% per annum. The Hong Kong Prime Rate will be determined by the HKMC from time to time.

General Information

1) List of Banks
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2) Premium Rate Sheet (applicable for provisional agreements for sale and purchase executed on or after 7 July 2023)
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