Loan Scheme

	Around or over 20 years old but are still serviceable;
	Without any statutory order or advisory letter from Government Departments;
	Private residential or composite buildings;
	With Owners' Corporations (OCs) and agreed to undertake continuous up-keeping of the building;
	Owners have reached consensus for rehabilitation of the building and Authorized Person is appointed;
	Located within the Scheme Areas of URA in Yau Ma Tei / Mongkok, Tai Kok Tsui, Ma Tau Kok, Shum Shui Po, Tsuen Wan, Kwun Tong, Wanchai, and Central & Western District.

Loan applicants must be registered individual owners of domestic units (except non-profit-making organization and charity organization).
No means and asset tests
Terms of Loan
- Interest free
- Maximum loan amount is HK$100,000 (note 1) or 100% of individual property's shared cost plus, as approved by URA, the cost of repair and maintenance works to the interior of the property which is carried out in association with the works to the common area of the whole building, whichever is the lower (note 2).
- Repayment period up to 60 months (minimum repayment amount : HK$100 per month).
- Execution of Loan Agreement is required between URA and successful applicant.
Security
- Loans between HK$25,001 and HK$100,000 shall be subject to a legal charge over the property in favour of URA.
Release of loans
- URA will disburse the fund to OC's account established for the rehabilitation works based on AP's certification.
- For a loan relating to the cost of repair and maintenance works inside a domestic unit which are carried out in association with the works to the common area of the whole building, the fund will be disbursed to the borrower's nominated account upon the receipt of applicant's submission of relevant Contractor's invoice.
Loan Repayment
- The first repayment installment will become due on the 5th day of the following month after the disbursement of the entire amount of the loan.
- The borrowers may settle the repayment by auto-pay, cheques or cash by debiting the URA's designated bank account.
Early Repayment
- The borrowers may repay the loan in whole or in part to the URA at any time before the due date.
- The minimum amount of early repayment shall be
  (a) at least 10% of the original loan amount, or (b) the outstanding loan balance.
Deferred Payment

During the repayment period, borrowers can apply for deferred payment when encountering financial difficulty. The maximum period of deferment is one year. The application should be submitted with financial hardship proof. The deferment is subject to approval by URA.

A grants may be made to individual owner with genuine financial difficulty. Maximum amount of grant is HK$10,000:
A grant applicant must be the registered owner of relevant property, fulfilling one of the following criteria:
- Recipient of Comprehensive Social Security Allowance (CSSA); or
- Aged 60 or over, who meeting income/asset limits in Schedule (a); or
- Below the age of 60, disabled and meets the income/asset limits in Schedule (b):

Schedule (a)
Aged 60 or over applicant(s)

Household Size	Monthly Income Limit (HK$)[(Note 1) & (Note 2)	Asset Limit (HK$)[Note 3]
Singleton	7,650	171,000
Couple	12,500	258,000

Schedule (b)
Below the age of 60, disabled applicant(s)

Household Size	Average Monthly Household Income (HK$)[(Note 1) & (Note 2)]	Household Asset Limit (HK$)[Note 3]
1	7,400	22,500
2	11,600	30,000
3	12,900	45,000
4	15,800	60,000
5	18,400	60,000
6	21,700	60,000
7	23,400	60,000
8	24,800	60,000
9	27,500	60,000
10 or above	28,700	60,000

Note 1: In the case that the applicant's property is mortgaged, the monthly income limit will be adjusted upwards to include his monthly mortgage repayment.

Note 2: The income limit will be adjusted upwards for families with disabled member(s). Family members mean all the members residing in the same unit.

Note 3: The property in which the applicant resides and to which the loan relates will be disregarded in assessing the applicant's assets.

Note 4: The income/assets limits in Schedules a) and b) are subject to change without prior notice.

	URA will disburse the fund to OC's account established for the rehabilitation works based on AP's certification.
	URA hardship grant to a grantee relating to the cost of repair and maintenance works inside domestic unit which are carried out in association with the works to the whole building will be disbursed to the grantee's nominated account upon the receipt of applicant's submission of relevant Contractor's invoice.

Application is easy and simple. Please call 2588 2333 for details.

Last Update at : 09/04/2009