QAWhat are the eligibility criteria of Building Maintenance Grant Scheme for Elderly Owners (BMGS)?


The applicant for BMGS should be a holder of a valid Hong Kong Identity Card; aged 60 or above; the owner-occupier of a residential flat in a private domestic building or composite building; applicant and his/her spouse (if married) should be residing in the property; and should comply with the prescribed income and asset limits as follows:
- Monthly Income Limit: HK$7,970 (Singleton), HK$13,050 (Couple)
- Asset Limit: HK$686,000 (Singleton), HK$1,040,000(Couple) 

(Version dated: Feb 2019)

QAWhat are the vetting procedures for Building Maintenance Grant Scheme for Elderly Owners (BMGS)?

Applicant must submit income proof and asset declaration.  Applicant is required to make statutory declaration to confirm that all information and evidences supplied are genuine and correct. 
Computation of income excludes monthly contribution to Mandatory Provident Fund, Disability Allowance, Old Age Allowance and mortgage repayment of the self-occupied property.  Computation of asset excludes the value of the property in which the applicant resides.

QAIf only one member of a married couple is the registered owner, will the income and asset of the other member be computed in the application for Building Maintenance Grant Scheme for Elderly Owners (BMGS)?

A Yes, assets of the unit owner and the spouse (if married) will be included.

QAIf the unit is jointly owned by two persons who are not a married couple and one of them is not an elderly, how to calculate the amount of subsidy of Building Maintenance Grant Scheme for Elderly Owners (BMGS)?

A The subsidy amount is based on the undivided shares of the elderly’s ownership. For example, if the elderly owns 30% share of ownership of the flat, he / she can get up to HK$40,000 x 30%.

QAWhat are the eligibility criteria for the Building Safety Loan Scheme (BSLS)?

A The applicant must be the owner of a private building, be it a domestic, composite, commercial or industrial building. The loan should be used for carrying out the following building maintenance works: improvement of the structure of the building; safety of external walls; fire safety; fire services installations and equipment; building and sanitary services; slopes and retaining walls; removing unauthorised building works (UBWs); and illegal rooftop structures. Applicant should have appointed qualified building professionals/competent contractors to supervise the works.

QAHow is the interest calculated for the loan under Building Safety Loan Scheme?

A The interest rate is set at Government of the Hong Kong Special Administrative Region’s no-gain-no-loss rate which is reviewed on a monthly basis.

QAWhat is the repayment arrangement for the loan under the Building Safety Loan Scheme?

A The first repayment by instalments will be due one month after the final drawdown of the loan. The maximum repayment period is 36 months for an interest-bearing loan and 72 months for an interest-free loan.

QAIf an owner has only received MWIS Pre-Notification Letter or Statutory Notice, can he/ she apply for MBISS?

A No. Only the building owners having received MBIS Pre-notification Letters or Statutory Notice can apply MBISS.