Hong Kong banks turn cautious on One Stanley mortgages, disbursements suspended pending investigation

Luxury development One Stanley has been found to have construction defects and is under investigation. Hong Kong banks are turning cautious on mortgages for the development, while property agents have suspended viewings at the estate, an incident that may cast a shadow over the recovery of Hong Kong's ultra-luxury property market. Eric Tso, Chief Vice President of mReferral Mortgage Brokerage Services, said most banks are adopting a wait-and-see attitude and will take a more cautious approach to mortgages.