The Housing Department today reminded owners of subsidised housing to observe and strictly comply with the alienation restriction stipulated in the Housing Ordinance when refinancing their flats.
Recently a Home Ownership Scheme flat owner alienated their flat in King Shing Court, Fanling, to a finance company with a loan agreement, without paying a premium to the Housing Authority or obtaining prior approval from the Director of Housing.
The owner and the finance company were prosecuted for the offence of unlawful alienations. They were convicted by Kwun Tong Magistracy yesterday and fined $10,000 and $80,000.
The Housing Ordinance makes it an offence for a subsidised housing flat owner to unlawfully mortgage, charge, assign or otherwise alienate their flat without paying a premium or obtaining prior approval.
