HKMCI introduces flexible rental options for homeowners

This aims to help homeowners with their needs.

HKMC Insurance Limited (HKMCI) announced a new arrangement under the Mortgage Insurance Programme (MIP), allowing eligible homeowners to rent out their self-occupied properties. 

This arrangement will assist homeowners in meeting their needs arising from changes in personal or family circumstances. 

Homeowners may apply to rent out their property if:

• The homeowner's family is expecting newborn(s) or adopting child(ren), resulting in a change in housing needs;
• The homeowner has become unemployed and requires more flexible housing or financial arrangements; or
• The homeowner has other special needs to rent out his/her property, and has been residing in the relevant property for not less than 12 months.

The new arrangement was effective yesterday, 8 August.