Document background
The Cancellation Letter For Housing Loan is a crucial document used in the Hong Kong banking and real estate sector when a borrower needs to formally terminate a housing loan agreement. This document is typically used in scenarios where the borrower has decided not to proceed with the loan, found alternative financing, or when the property purchase has fallen through. The letter must conform to Hong Kong banking regulations and the Code of Banking Practice, requiring specific information such as loan reference details, property information, and clear cancellation instructions. It serves as official documentation of the borrower's request to cancel the loan and protects both parties' interests by clearly stating the cancellation terms and any requirements for fee refunds or document returns.
