Reverse mortgage

When does the reverse mortgage terminate?

The reverse mortgage terminates when:

  • the borrower repaysthe loan in full;
  • the borrower voluntarily delivers vacant possession of the property to the bank to allow the bank to sell the property for the borrower;
  • the property is no longer the borrower’s principal residence in Hong Kong;
  • the borrower has passed away, or in the case of a joint reverse mortgage, both borrowers have passed away;
  • the borrower, or in the case of a joint mortgage, one or both borrowers, is adjudged bankrupt or becomes the subject of an individual voluntary arrangement; or
  • other circumstances occur.