The Hong Kong Monetary Authority and the Hong Kong Association of Banks today announced that the banking industry is further extending credit support measures for individuals affected by the Tai Po fire. The initiative recognises that some individuals require more time to finalise their housing and financial arrangements.

To alleviate financial burdens and provide greater flexibility for long-term housing arrangements, all 28 retail banks will extend the repayment grace period for existing mortgages, personal loans and credit card loans. This extension, covering both principal and interest, will run for an additional six months until the end of May 2027. 

Furthermore, all mortgagee banks for Wang Fuk Court will continue assisting mortgagors and borrowers who sell their property rights to the Hong Kong Special Administrative Region Government. These banks will handle mortgages in a flexible manner, including extending the repayment grace period for the original loan until the newly purchased unit is ready for intake.

The relevant banks will also maintain close communication with the mortgagors and borrowers to facilitate a smooth transition to their long-term housing arrangements.