Hong Kong considering new mortgage scheme that would slash down payments, monthly instalments for subsidised flats, city leader says

Hong Kong is considering a new mortgage scheme for subsidised flats that would slash down payments by half and allow buyers to defer some of the debt in a bid to make homes more affordable, the city’s leader has said.Speaking to local media, Chief Executive Carrie Lam Cheng Yuet-ngor said the government hoped to enable citizens, including those waiting to be allocated public housing, to “leapfrog” renting and purchase homes instead.Lam was referring to a so-called progressive payment mortgage…

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