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Housing Loan Cancellation Letter

Housing Loan Cancellation Letter Template for Hong Kong

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Key Requirements PROMPT example:

Housing Loan Cancellation Letter

"I need a Housing Loan Cancellation Letter for a fully repaid mortgage on a residential property in Hong Kong, with the loan being repaid ahead of schedule on March 15, 2025, and including provisions for the return of original property documents."

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Document background
The Housing Loan Cancellation Letter is a crucial document in Hong Kong's property financing landscape, typically issued when a borrower has fully repaid their housing loan or wishes to refinance with another institution. This document is required by Hong Kong banking regulations to formally acknowledge the termination of the loan agreement and the release of any security interests held by the bank. It must comply with the Hong Kong Banking Ordinance and property laws, containing specific details about the original loan, confirmation of full repayment, and explicit release of the mortgage. The letter serves as official evidence for the Land Registry and other authorities that the property is free from the specified encumbrance.
Suggested Sections

1. Letter Header: Bank's letterhead, date, reference number, and addressee details

2. Loan Reference: Details of the original loan agreement including date, loan number, and property address

3. Cancellation Statement: Clear statement of loan cancellation and effective date

4. Outstanding Obligations: Confirmation of full repayment or statement of any remaining amounts due

5. Security Release: Confirmation of release of mortgage and any other security interests

6. Return of Documents: List of original documents to be returned to the borrower

7. Closing: Bank's authorized signature block and contact information

Optional Sections

1. Partial Cancellation Details: Used when only part of the loan facility is being cancelled, specifying which portion remains active

2. Multiple Property Release: Required when the loan covers multiple properties and specifies which properties are being released

3. Surviving Obligations: Details of any obligations that survive the cancellation, such as ongoing warranties or indemnities

4. Third Party Consent: Required when there are guarantors or other third parties whose consent is needed for cancellation

5. Future Correspondence: Instructions for any future correspondence or actions required after cancellation

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property/properties involved, including lot numbers and addresses

2. Schedule 2 - Original Loan Details: Summary of the original loan terms, amount, and payment history

3. Appendix A - Supporting Documents: List of all supporting documents attached or required for the cancellation process

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions
























Clauses

















Relevant Industries

Banking

Real Estate

Financial Services

Mortgage Lending

Legal Services

Property Management

Consumer Banking

Retail Banking

Relevant Teams

Legal

Mortgage Administration

Credit Operations

Compliance

Document Management

Customer Service

Risk Management

Property Services

Loan Operations

Banking Operations

Relevant Roles

Mortgage Officer

Loan Officer

Bank Manager

Legal Counsel

Compliance Officer

Property Manager

Credit Administrator

Document Controller

Banking Operations Manager

Mortgage Specialist

Risk Manager

Customer Service Manager

Property Lawyer

Conveyancing Manager

Industries






Teams

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