The Hong Kong Monetary Authority (HKMA) responded to media inquiries today (Dec. 3), stating that according to data collected from banks, there are approximately 300 residential mortgage loans in Wang Fuk Court, Tai Po, with outstanding loan amounts totaling around HK$540 million.
An HKMA spokesperson said that banks have provided pre-approved six-month principal and interest repayment moratoriums for mortgages held by affected residents, with the aim of alleviating their immediate financial pressure.
The authorities noted that handling these mortgages involves complex issues such as legal matters, insurance company compensation, and arrangements for building restoration or reconstruction. The repayment moratorium will allow affected residents and relevant institutions time and space to address these matters.
The spokesperson emphasized that the HKMA will continue to discuss follow-up arrangements for these mortgages with the banking industry, handling each case with compassion and flexibility.
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