Hong Kong Mortgage Insurance Programme (MIP) 2026: Full Guide to Premiums, Refunds & Rental Rules

2026.04.20

Amid Hong Kong’s high property prices, most homebuyers rely on mortgage financing. Private residential properties usually have a maximum loan-to-value (LTV) ratio of 70%, but the Mortgage Insurance Programme (MIP) lets you borrow up to 90% LTV by transferring extra risk to insurers. This guide covers 2025 MIP updates: premium tables, approval steps, refund rules, and the latest rental exemption policy.

MIP is a scheme that lets banks offer high-LTV home loans (above 70%) for self-occupied residential properties. The insurer covers the excess loan risk, so banks can lend more while staying compliant with HKMA rules.
You need MIP if you want to borrow more than 70% of your property’s value.

2026 MIP Maximum LTV by Property Value

Current official LTV caps for self-occupied homes:
≤HK$10M: up to 90% LTV
HK$10M–HK$11.25M: 80–90% LTV (loan capped at HK$9M)
HK$11.25M–HK$15M: up to 80% LTV
HK$15M–HK$17.15M: 70–80% LTV (loan capped at HK$12M)

Property Value#	Maximum LTV Ratio#
Up to HK$10 million	80% or 90%*
Above HK$10 million and below HK$11.25 million	80% or 90%* (subject to a loan cap of HK$9 million)
At or above HK$11.25 million and up to HK$15 million	80%
Above HK$15 million and up to HK$17.15 million	70% - 80%(subject to a loan cap of HK$12 million)
Above HK$17.15 million and up to HK$30 million**	70%

*Only applicable to application with (i) all mortgagors not holding any residential properties in Hong Kong at the time of application and (ii) all applicants being regular salaried persons (please refer to the relevant Insurance Eligibility Criteria)

**Only applicable for provisonal agreements for sale and purchase before 16 October 2024

2025 MIP Premium Tables (Floating Rate)

Table 1: For Property Value up to HK$6 million &Insurance coverage from 70% LTV to 90% LTV (For First Time Home Buyer)

Insurance coverage according to Loan-tovalue Ratio (LTV)	Loan Tenor (Years)	Single Premium Payment	Annual Premium Payment
Insurance coverage according to Loan-tovalue Ratio (LTV)	Loan Tenor (Years)	Single Premium Payment	First Year (% of the Original Principal Balance)	Renewal (% of the Original Principal Balance)
70% up to 75% LTV	10	0	N/A	N/A
	15	0	N/A	N/A
	20	0	N/A	N/A
	25	0	N/A	N/A
	30	0	N/A	N/A
70% up to 80% LTV	10	0.5	0.45	0.22
	15	0.6	0.55	0.22
	20	0.76	0.65	0.22
	25	0.83	0.7	0.22
	30	0.92	0.8	0.22
70% up to 85% LTV	10	0.86	0.65	0.43
	15	1.02	0.75	0.43
	20	1.25	0.85	0.43
	25	1.35	0.95	0.43
	30	1.41	1.05	0.43
70% up to 90% LTV	10	1.25	0.85	0.61
	15	1.48	1.04	0.61
	20	1.79	1.23	0.61
	25	2.03	1.41	0.61
	30	2.16	1.6	0.61