Name of the Organization : Buildings Department Government of Hong Kong
Type of Facility : Building Safety Loan Scheme
Country : Hong Kong
Website : http://www.bd.gov.hk/english/services/index_bsils.html
Application Guideline : https://www.statusin.org/uploads/25518-guidelines.pdf
Application Form : https://www.statusin.org/uploads/25518-applicationform.pdf
Building Safety Loan Scheme :
** Completed application form must be returned by hand or by post together with all necessary documents.
** Applicants of interest-bearing loan are not required to go through any means-test.
Related : Labour Department Work Incentive Transport Subsidy Scheme Hong Kong : www.statusin.org/25150.html
** Relevant supporting documents must be submitted together with the completed application form by ALL applicants.
All applicants must submit :
1. A copy of the quotation/tender/contract of the works proposal;
2. A copy of the resolution of the general meeting of Owners’ Corporation, if any item of work involved in the proposal is in the common parts of the building.Where no Owners’ Corporation has been formed, documentation showing owners’ consent for such item of work; and
3. A copy of the Business Registration Certificate of the contractor should be provided if he is not a registered contractor. (*The applicants need not submit the above documents if the loan applications are related to repair works coordinated by the Owners’ Corporations or related residents’ organization of the building, which is willing to assist in providing the documents. The Buildings Department would liaise with the said party direct for the required information.)
Individual applicants to submit also :
1. A copy of HKID card of the applicant (if there is no HKID card, please provide other valid personal identification document).
2. For applicants applying for deferred repayment until transfer of title of the property/death of the borrower, a reference letter in support of the application from a registered social worker may be required.
3. For applicants of interest-free loan under the low income category, the following are required –
(a) A letter from the employer to certify the applicant’s average monthly remuneration for the past 12 months, or a copy of current year’s income tax assessment on his annual income. Similar certification letters from the employers of his other household members are required; and
(b) A photocopy of all the bank account book(s) (including the payroll bank account), in the applicant’s (and the other household member(s)’) possession showing the transaction details (including net back items) for the last 12 months.
Company applicants to submit also :
1. A copy of the Certificate of Incorporation and Business Registration Certificate of the company;
2. A copy of the board resolution of the company for the application;
3. A copy of the latest Annual Return of the company; and
4. If there have been changes in the particulars of the secretary or the directors after the said Annual Return has been submitted to the Companies Registry, a copy of the relevant Notification of Changes of Secretary and Directors. (Company applicants are required to provide security should their loan applications be approved. Applicants would be provided with relevant details later.)
1. Eligibility of Applicants :
1.1 Applicants are required to satisfy the following conditions to be eligible to apply for a loan from the Scheme:-
(a) He must be the registered owner of the building/premises for which the loan relates, and the building concerned is a private building including domestic, composite, commercial or industrial building;
(b) The provision/improvement/maintenance works to be carried out are covered under Building Safety Loan Scheme; and
(c) Have appointed qualified building professionals/competentcontractors to supervise the works, as required by theconcerned authority/departments.
2. Loan Amount :
2.1 The amount of the loan shall be determined by the Director of Buildings and shall not exceed the total costs of the works, as apportioned among the number of owners who contribute towards the improvement project, subject to a ceiling of $1Million per unit of accommodation.
3. Interest :
3.1 Registered owners who meet the eligibility criteria set out at paragraph 1 may apply for interest-bearing loans. Applicants of interest-bearing loan are not required to go through any means-test. They are required to pay interest at a rate determined by the Government on the no-gain-no-loss principle.
3.2 Applicants (other than registered companies) who have financial difficulties in repaying the loan with interest may apply for interest-free loans if he/she is:
(a) A recipient of the Comprehensive Social Security Assistance; or
(b) A recipient of the Old Age Living Allowance; or
(c) Earning income and possessing assets (including other household members) shall not exceed the limit stipulated in item 1(a) of IBMAS “Income & Asset Limit and Ratable Value Limit” table within the limits set for low income category applicants.