In the mortgage application process, banks need to obtain proof of income from applicants and access their credit reports to understand their credit status, credit ratings, and repayment habits. Since 2011, mortgage basic information has been recorded in the credit database, making it easier for banks to oversee the borrowee's overall debt situation. For accuracy in debt-to-income ratio assessment, banks must know all outstanding loans, including the number of properties being mortgaged, the total monthly payments for current debts, and so on. The main difference between "Form One" and "Form Two"? Given these conditions, whenever borrowers apply for a mortgage, they must sign "Form One," giving consent for banks to check the credit records including the mortgage data. The mortgage data includes the number of loans, the borrower's identity regarding each loan (borrower, mortgagor, guarantor), loan type and status (effective, ended, written off), and more. These records help banks assess the borrower's situation and approve the loan. However, under the Personal Data Protection Ordinance, applicants have rights to control the range of personal data provided. Therefore, "Form Two" limits the data banks can access; although banks still have permission to check credit records, mortgage data is excluded. Selecting "Form Two" doesn't make the application more favorable. Despite the rights granted by law to withhold mortgage data from banks, the lack of this information makes accurate assessment difficult. Banks cannot determine the total amount of mortgage payments the borrower is making, making it impossible to ascertain the debt-to-income ratio and the borrower's borrowing and repayment capacity. Consequently, most banks in the market would not accept Non Consent mortgage applications. Some banks may accept Non Consent applications but with a more rigorous and time-consuming approval process. Banks are more cautious and conservative, often reducing the mortgage LTV (loan-to-value ratio) by 10% to 20% or raising the mortgage rate by 0.1% or more. There is a possibility of being rejected due to uncertainties. In practice, banks already require applicants to declare their current mortgage situation through their application forms, including any existing mortgages and corresponding monthly payments. Banks also verify mortgage information via bank statements, cash flow, and credit records. If a mortgage is being made, the bank will include this in the debt-to-income ratio calculation. For Non Consent applications, banks often conduct property title searches on the address recorded in the credit report, seeking to verify if the applicant is the owner and mortgagor of the property. Thus, protecting privacy doesn't equate to hiding debt. Banks will still endeavor to understand the borrower's debt status. For Non Consent applications, banks often reduce the mortgage LTV by 10% to 20% and raise the mortgage rate by 0.1% or more. WONG Man-fung, CEO of Chow Tai Fook Mortgage.