May 16, 2024
Loans

Exclusive | Hong Kong Monetary Authority asks banks to exercise caution when offering property loans for speculative ‘confirmor sales’

A confirmor sale occurs when a purchaser or confirmor enters into an agreement for the sale and purchase of a property with the owner or vendor, but before completion sub-sells the property to a sub-purchaser. A few such transactions have been noticed since the removal of the curbs by the Hong Kong government last week.

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