As a listed company, GICL provides professional property mortgages that combine cost-effectiveness and borrowing flexibility. We help you easily cash out from various property types, including private housing, HOS, village houses, and public housing. This guide explains the meaning of a top-up mortgage, the differences between top-ups, refinancing, and second mortgages, and compares interest rates, LTV ratios, and rebates—including GICL’s legal fee waivers and a mortgage calculator.
A property top-up mortgage cash-out refers to applying for an additional loan amount from your existing mortgage bank to obtain extra funds. This capital can support property investment, business turnover, renovations, or children’s education. Whether you own an unencumbered property (no existing mortgage) and apply for a new loan at a bank, or you are currently repaying a mortgage and apply for an additional loan from the same bank, both are considered "top-up mortgages."
As a type of mortgage, the top-up application process is similar to a standard mortgage. It must follow HKMA guidelines, requiring personal data and income proof for approval. Applicants must meet the Debt Servicing Ratio (DSR) requirements—capped at 50% for self-occupied and 40% for non-self-occupied properties—meaning approval may take time.
Furthermore, if the property is jointly owned, the consent and joint application of all owners are required for the top-up mortgage.
If a homeowner mortgaged their unit to a bank and the property appreciates 5 years later, they can apply for a top-up from the same bank. Suppose the unit was purchased for $5 million 5 years ago with a 60% mortgage ($3 million).
Now the price has risen to $7 million. 60% of $7 million is $4.2 million. With an outstanding balance of $2.5 million, the difference is $1.7 million. By applying for a top-up, the bank can lend at least $1.7 million for cash-out purposes without increasing the LTV ratio.
The main difference between Top-up Mortgage and Refinancing lies in the lending institutions involved.
A top-up mortgage refers to applying for additional borrowing from the same existing lending institution to increase the mortgage charge and cash out more funds.
Refinancing involves transferring the existing mortgage loan from the current bank or financial institution to a different institution.
Note: Not all top-up or refinancing interest is tax-deductible. If the cashed-out funds are not used for residential purchase, the interest is not deductible.
Top-up mortgages are suitable for those needing small cash-out amounts or wishing to keep existing terms. Refinancing is ideal for owners seeking better loan conditions or larger loan amounts.
Note that the penalty period resets after a top-up, preventing immediate refinancing.
With recent market fluctuations, many owners face issues like low online valuations or failing stress tests due to missing tax returns when applying for a bank top-up. If you need urgent capital, you don't have to rely solely on traditional top-ups. GICL’s "Second Mortgage" service allows you to obtain funds rapidly without surrendering your title deed while keeping your low-interest first mortgage, perfectly resolving top-up rejection issues.
Top-up Mortgage and Second Mortgage : The main difference is that a top-up involves only one lender (usually a bank) providing additional funds. A second mortgage involves two lenders, hence the name.
A second mortgage keeps the existing first mortgage (usually with a bank) and adds a new mortgage with another financial institution. Both interest rates and loan amounts will change.
Due to higher risk, second mortgage rates are usually higher than top-ups, but offer higher LTV ratios. They are suitable for owners needing higher ratios who cannot pass mortgage insurance requirements.
Second mortgage applications are simple. For example, GICL requires no income proof or stress test, with preliminary approval as fast as 15 minutes—ideal for those needing urgent cash.
Want to know more?See Property Cash-out Guide: A Full Comparison of 2nd Mortgage vs. Refinancing vs. Top-up
Compared to bank top-ups, GICL’s mortgage services (including 2nd mortgages andRefinancing:
🔥 Apply now to let GICL secure the most preferential mortgage plan for you!
Most bank top-up rates are higher than first mortgages, offering floating P-rate (Prime) and H-rate (HIBOR) options.
H-rate fluctuates with the market—dropping faster but with higher volatility. P-rate is more stable but slower to drop. H-rates are often more favorable during rate-hiking cycles, while P-rates may be chosen when rates are falling.
Based on Sept 2025 data, bank P-rates are around P-1.75% to P-2.1%; H-rates are around H+1.3% to H+1.6%, capped at P-1.75% to P-2.1%.
When rates rise, top-ups are suitable to keep existing low-interest mortgages. Conversely, when rates drop, consider switching plans at your bank or refinancing to another institution.
If you cannot top up or switch plans at your bank, consider refinancing with GICL. Our rates are lower than personal loans, we require no stress test, and we offer faster processing for a quick cash-out.
LTV ratios depend on the current valuation, outstanding balance, and existing LTV, with repayment periods of 25–30 years.
According to the 2024 Policy Address, the LTV cap for residential and non-residential properties (commercial, parking, etc.) is set at 70%, regardless of property value, usage, or ownership status.
而Refinancing至GICL環球信貸，按揭成數高達7成，審批要求🏦 Traditional Banks低，審查時間亦較短。
Private housing, tenement buildings (Tong Lau), premium-paid public/／HOS housing, village houses, industrial buildings, shops, offices, parking spaces, and land plots are all eligible for top-ups or cash-outs. These can also be refinanced with GICL with no age limit for flexible turnover. Rates and LTV ratios vary by property type.
Higher ratios are available. Tenements can reach up to 90% LTV, while village house top-ups are generally capped at 80%. However, actual approvals are often around 60% after strict title and quality checks.
Can HOS (Home Ownership Scheme) or Public Housing (TPS) properties be topped up? Both Green Form and White Form HOS, as well as Public Housing, can apply for a top-up mortgage. Applicants can choose between H-rate or P-rate plans. However, it is highly recommended to check your eligibility with the Housing Department before applying for a top-up or refinancing.
Premium-unpaid HOS (including Green Form, White Form, Green Form Secondary Market, and White Form Secondary Market) or Public Housing cannot be topped up or refinanced for cash-out unless a Letter of Consent is obtained from the Housing Department. Only then can owners participate in a premium-free remortgage or refinancing plan.
The procedure requires applying for the Letter of Consent first. The Housing Department generally only grants approval under exceptional circumstances involving financial hardship (such as raising funds for medical expenses, family members' education, funeral costs, alimony payments, or business financial distress) or changes in ownership. Even if the HOS top-up is approved, the cashed-out amount is strictly limited to covering those specific expenses. The approval for an HOS top-up is valid for 6 months from the date of issue.
However, Green Form owners can top up or refinance their outstanding mortgage balance (without cashing out extra funds) for the purpose of lowering their interest rate, earning cash rebates, or enjoying fee waivers (including legal fees).
Regarding HOS mortgage LTV ratios, starting March 1, 2024, the government guarantee period was extended to 50 years. Thus, first-hand Green Form HOS can secure up to a 95% LTV with a maximum repayment period of 30 years. Once the guarantee period expires, the approval criteria for HOS top-ups or refinancing become identical to private housing. The only exception is that guarantors cannot be added for HOS properties with an expired guarantee, meaning the owner must have sufficient financial capability to pass the Debt Servicing Ratio (DSR) requirements independently.
Premium-paid HOS properties are treated exactly like private housing. Owners can apply for mortgage insurance to execute a top-up cash-out or refinance to "drop the mortgage insurance" (甩按保) without prior approval from the Housing Department. The LTV ratio for HOS is capped at 60%, and the property can be freely rented out on the open market.
GICL's approach to premium-paid HOS refinancing cash-outs offers interest rates, LTV ratios, and repayment terms similar to those of private housing.
Furthermore, GICL provides a specialized "HOS Loan" for premium-unpaid HOS owners. This is a tailored personal loan (HOS Homeowner Personal Loan) offering fast preliminary approval in as little as 5 hours. It eliminates complex document vetting, offers loan amounts up to HK$1.5 million, and features a repayment period of up to 120 months. The interest rate is lower than standard personal loans, requires no stress test, and there is no need to deposit the title deed or visit a law firm.
Don't want to sell your property at a low price just because you're short on cash?Read:[Homeowner's Survival Cash-Out Guide in a Sluggish Property Market]
When property prices rise, applying for a top-up increases your borrowing headroom and may also grant you cash rebates or exclusive offers. Banks in the market generally provide a cash rebate of around 0.3% to 1% for private housing and HOS applicants. Assuming the percentage is the same, the absolute rebate amount for refinancing is typically larger than for a top-up. This is because refinancing rebates are calculated based on the entire new loan amount, whereas top-up rebates are calculated solely on the newly cashed-out portion.
However, bank requirements for property top-ups or refinancing are stringent and difficult to pass. Moreover, the HKMA currently imposes strict regulations on mortgage cash rebates: if the top-up or refinancing cash rebate exceeds 1%, the excess must be deducted from the loan amount.
Conversely, GICL's refinancing service introduces and appoints refinancing lawyers for you, offering waivers on legal fees, valuation fees, and handling fees, thereby significantly reducing your refinancing costs. Refinancing applicants should contact GICL directly to inquire about specific offer details.
Yes. Global International Credit Group Limited (GICL) appoints reputable, large-scale law firms located in Central, Hong Kong, to handle mortgage loans, guaranteeing that clients receive reliable refinancing services.
Yes, owners can freely sell their mortgaged properties at any time. There is no need to obtain prior consent from Global International Credit Group Limited.
You can fill out the application form on the Global International Credit Group Limited website, contact us via WhatsApp or WeChat, or call our enquiry hotline. Simply leave your basic personal and property information, and a dedicated specialist will reply shortly with a preliminary approval result. If you accept the terms, you can then submit your documents to officially process the refinancing application.
We offer a free preliminary property valuation service. Please fill out the form below and we will get back to you as soon as possible.
