Case 1 : Swap property

    Background : Ah Man and his pregnancy wife planned to buy a new flat to receive their new born baby. They have to cash their current property to get money to place the down payment of the new flat. During this transition period, they may be homeless.

    Solution : Ego Finance has short term loan to those wish to cash out the current property and purchase a new flat. The customers may choose to pledge the current flat at Ego Finance to get facility in purchasing the new flat. After moving into the new flat, the customer would then have time to sell out the old property to settle the outstanding. This flexibility would help the customer to ease short term financial burden in property transaction.

    Case 2 : Good combination of 1st Mortgage and 2nd Mortgage can help to save interest expenses

    Background : Terry and Amy planned to get marry and were frustrated with the marriage spending. Terry felt his budget very tight as he needed to support his parent in repaying the mortgage of which his parent currently lived for over 10 years.

    Solution : Ego Finance has mortgage restructuring scheme to help the current mortgagor to restructure the combination of their 1st and 2nd mortgage. The strategic planning is to enlarge the 1st mortgage portion to enjoy cheaper interest rate as well as to benefit from the appreciation of the property. The ultimate goal is to save the interest expenses and cash out from the property appreciation..

    Case 3 : Getting facilities under joint ownership of property

    Background : Ah Kit was self employed and recently concluded a contract that needs funding for production. All he has is a property which is under the name of Ah Kit and his wife. He has no income proof and is hard to get funding from bank or finance institution. Since his property is under join ownership, he doesn’t want to make his wife worried.

    Solution : Ego Finance accept single application for financing despite the property was under joint ownership. It was designed to help the SME and self employed individuals in solving short term financial needs and it required no income proof.

    Case 4 : Village Type House (VTH) owner needs funding

    Background : Ah Hung want to send his son to continue the study oversea but the cash in hand is insufficient to pay the tuition fee. He has a village type house and the premium was unpaid. He was frustrated because his property was not qualified for mortgage consideration.

    Solution : Ego Finance has a house ownership loan which is tailored for those owners with unpaid premium in public housing, house ownership scheme and village type house owners. The scheme is free from income examination;non collateral and all charges waived. Ah Hung’s son was on his flight to study after receiving the funding from Ego Finance.

    Case 5 : Loan consolidation

    Background : Ah Kuen always missed the credit cards due day and received collection calls from collectors. After default the minimum payment, an overdue charge was imposed and this further worsened his indebtedness. AH Kuen failed to manage because different credit cards have different due days and this was always being overlooked

    Solution : Ego Finance offers loan consolidation program to help customers to settle various loans. From this program, customers will have a better planning and schedule to repay their loan. It will lower the interest expenses and enable the customers to repay it in a longer tenor. Ah Kuen, as a result, eased his financial burden at one stop.

    Case 6 : Down payment headache

    Background : An aged mother planned to pledge her owned property for remortgage to cash out a down payment to enable her son to buy a new flat for his marriage. After placed the deposit to the developer, his son failed to get sufficient funding from bank as the mortgage policy has been squeezed that led to a shortage of funding deposit. If this is the case, the placement of deposit may be forfeited upon completion date.

    Solution : It was advised that the son apply a second mortgage of the newly purchased flat from Ego Finance to cope with the unexpected increase of down payment. Ultimately, the young couple will get through and have their new family.

    Case 7 : Maintenance of aged properties

    Background : A retired couple lived in their aged property over 50 years. The Housing Society recently launched the “Building Management and Maintenance Scheme”, the individual owner needs to share the maintenance cost of the building which means a lot to them.

    Solution : The aged couple applied the re-mortgage facility of the property and got the funding. Ego Finance accepted their daughter to act as their guarantor and they choose to repay the interest first and settled the outstanding loan on an agreed date. At last, they solved the maintenance cost and at the same time refurnished their flat.

    Case 8 : Hospitalization and medical expenses

    A young couple married for ten years and enjoys their lovely life. One day, the wife went for medical check up and was shocked that she has stomach cancer. This incident not only set back their life but also gave them a heavy burden in paying the medical expenses. The insurance coverage is limited and is not sufficient to settle the medical bill. They feel frustrated.

    Solution : The husband, after seeking advice from his brother, approached Ego Finance applying for mortgage facility. Although the join title deed of the property is under the name of the couple, the mortgage was granted based on his half title of the property. The medical expenses were solved.

    Case 9 : Buy a delivery van

    Background : A young driver, living with his parent in a flat under the Home Ownership Scheme, was involved in an accident and made his van at total loss. He tried to apply a personal loan through a finance consultant agency and nearly being trapped.

    Solution : The driver’s parent directly approached Ego Finance applying for a loan without going through agency and willing to pledge their flat as security. Ego Finance approved a House Ownership Loans by evaluating the property values and the loan being granted on non-collateral basis. With the loan, the son purchased a new van and was re-employed again.

    Case 10: Clear Credit Card Outstanding

    Case : A trading officer has three credit cards outstanding of HK$200,000 of which he overdrawn during his unemployed period in the last six months. At present he was re-employed but he was frustrated to pay the accured high interest and to settle the outstanding.

    Solution : He takes the advice from his friend to apply for the Loan consolidation service of balance transfer from Ego Finance. His indebtedness was being rescheduled by extending the tenor on his affordable level. This arrangement not only allowed him to clear his indebtedness on a well planned schedule but also saved the interest expenses by only paying the minimum payment.