25 Nov 2021

「樓換樓」買賣時序按揭大不同
Mortgage differs greatly in the timing of "flat-for-flat" transactions

置業路長，不少人成功踏出「上車」第一步後，下一個目標便是「愈住愈大」，從而萌生「樓換樓」的念頭。「樓換樓」一般分為「先買後賣」及「先賣後買」兩種方法，前者指業主購入新物業後才出售舊有物業；後者則相反，先售出舊有物業，再購入新的物業。
近年新按保計劃推出，提高了按揭保險計劃的樓價上限，樓價800萬元可承造最高9成按揭；樓價1,000萬元或以下可承造最高8成按揭。計劃為換樓客大開方便之門，大大降低了換樓門檻。不過，由於「先買後賣」即有兩個物業在身，新物業的按揭成數只能承造五成，並需要先繳付15%印花稅，待一年內售出舊有物業才退回稅項差額。因此，部份換樓客會選擇「先賣後買」，藉以透過新按保承造高成數按揭，及只需以「第二標準」稅率繳交印花稅。
不過，「先賣後買」期間業主或要另租居所暫住，同時亦需搬家兩次，牽涉額外的租金及搬遷費。為了節省費用，部份業主會「選擇」於簽定舊有物業的臨時買賣合約後，便簽定新買物業的臨時買賣合約，但求做到「無縫交接」。但原來買賣交易的時序不同，亦會影響其按揭成數，當中亦有需要注意的事項。
較常見的做法是，業主在簽定舊有物業的臨時買賣合約時，會與買家商議好延長成交期至三個月以上，並於期間完成新買物業的交易。這樣，由於有舊有物業的臨時買賣合約在手，新物業的按揭成數可高達8成（樓價1,000萬元或以下）。但要注意，由於舊有物業仍未正式完成交易，入息比率上限相應下調一成，並須通過加3厘壓力測試，因此業主事前要先仔細計算自身供款能力是否能通過入息要求。
如業主有地方暫住，便可選擇出售的物業成交期早於新買物業的成交期，最高可承造9成按揭，但有一些要點務必注意。首先，若選用9成按揭的人士並打算以「免壓力測試」的方式入市，必須等到舊有物業完成交易後，業主再向銀行申請新買物業之按揭。由於要經按揭保險公司再作審批，批核時間將會更長，建議申請按揭至新物業成交期預留至少一個半月的時間。

There is a long way to buy property. After many people have successfully taken the first step of "getting on the car," their next goal is to "live bigger and bigger," and the idea of ​​"flat-for-flat" came up. "Flat-for-flat" is generally divided into two methods: "buy first and then sell" and "sell first and buy". The former means that the landlord buys the new property before selling the old property; the latter is the opposite, in which the old property is sold first, and then Purchase a new property.
In recent years, the introduction of a new mortgage insurance plan has raised the upper limit of the mortgage insurance plan. A property price of 8 million can afford a mortgage of up to 90%; a property price of 10 million or less can afford a mortgage of up to 80%. The plan is to open the door to the convenience of exchanges, greatly reducing the threshold for exchanges. However, since "buy first and sell later" means that there are two properties in the body, the mortgage ratio of the new property can only be 50%, and 15% stamp duty must be paid first, and the tax will be refunded after the old property is sold within one year Item difference. Therefore, some house swappers will choose to "sell first and buy later" in order to cover high-end mortgages through the new mortgage, and only pay stamp duty at the "second standard" tax rate.
However, during the "sell first, buy later" period, the landlord may have to rent another place to live temporarily, and at the same time, it will also need to move twice, which involves additional rent and moving expenses. In order to save costs, some landlords will "choose" to sign the temporary sale and purchase agreement for the new property after signing the temporary sale and purchase agreement for the old property, but seek to achieve a "seamless handover". However, the original timing of the transaction is different, which will also affect the mortgage ratio, and there are also matters that need to be paid attention to.
A more common practice is that when signing the temporary sale and purchase agreement for the old property, the owner will negotiate with the buyer to extend the transaction period to more than three months and complete the transaction for the new property purchase during the period. In this way, with the provisional sale and purchase agreement of the old property in hand, the mortgage ratio of the new property can be as high as 80% (at a property price of 10 million yuan or less). However, it should be noted that since the old property has not yet formally completed the transaction, the upper limit of the income ratio is correspondingly reduced by 10% and must pass the 3% stress test. Therefore, the owner must carefully calculate in advance whether his own contribution ability can pass the income requirement.
If the owner has a place to live temporarily, he can choose to sell the property for a transaction period earlier than the transaction period for the newly purchased property, and the mortgage can be up to 90%, but there are some important points that must be paid attention to. First of all, if a person who chooses 90% of the mortgage and intends to enter the market with a "stress-free" approach, he must wait until the old property has completed the transaction before the owner applies to the bank for the mortgage of the new property. As the mortgage insurance company will need to review and approve, the approval time will be longer. It is recommended to reserve at least one and a half months for the mortgage application until the new property transaction period.