Best Mortgage Lawyers in Sheung Wan

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FORWARD SIU FAN VIOLA

FORWARD SIU FAN VIOLA

Sheung Wan, Hong Kong

Founded in 2000
50 people in their team
Chinese
English
Let Us Take Care of Your Legal MattersFORWARD & CO. LAWYERS is a well established legal firm located in the central business district of Hong Kong.  Our mission is to assist our clients to safely navigate the legal landscape and make informed decisions in order to achieve a...
Deacons

Deacons

Sheung Wan, Hong Kong

Founded in 1851
55 people in their team
Chinese
English
The Deacons DifferenceSince 1851, we have been developing a unique culture, which blends traditional client care with modern technology and working practices. Our integrity and dedication to the highest service standards is matched by our cosmopolitan nature and commitment to innovation.The...
Haldanes Solicitors

Haldanes Solicitors

Sheung Wan, Hong Kong

Founded in 1975
18 people in their team
Chinese
English
About UsHaldanes is an award-winning law firm in Hong Kong experienced in serving the needs of clients, both locally and throughout the Asia-Pacific. Established in 1975, the partners have an extensive collective knowledge of legal practice in the region. We cover Civil Litigation & Dispute...
Mike So Joseph Lau & Co

Mike So Joseph Lau & Co

Sheung Wan, Hong Kong

Founded in 1997
10 people in their team
Chinese
English
The firm was first established in Hong Kong on 17 November 1997 and Mr. LAU Wai-kwong Joseph is one of the founding partners. The firm now carries on business at the 7/F, Guangdong Investment Tower, No.148 Connaught Road Central, Hong Kong. The office has a gross floor area of about 7,700 square...
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About Mortgage Law in Sheung Wan, Hong Kong

The property landscape in Sheung Wan, Hong Kong is diverse and modern, characterized by elevated property values. Mortgage law in Sheung Wan, just as it is in all parts of Hong Kong, is governed by the Conveyancing and Property Ordinance. It covers areas like mortgage agreement, mortgage repayment, interest rates, the rights and responsibilities of both lender and borrower, and procedures in the event of default. The law aims to protect the rights of all parties involved and promote fair practices.

Why You May Need a Lawyer

Several situations might necessitate the assistance of a lawyer familiar with mortgage law. If you're planning to purchase property in Sheung Wan and need to secure a mortgage, a lawyer can help you understand the terms of your mortgage agreement. In case you're confronted with the risk of defaulting on your mortgage, an attorney can provide guidance on the best course of action. Disputes related to mortgage agreements or mortgage fraud are other instances where lawyer intervention is beneficial.

Local Laws Overview

The Conveyancing and Property Ordinance governs property transactions including mortgages. Under this law, all agreements must be in writing and must contain specific details such as the loan amount, interest rate, term of the loan, and parties involved. Lenders are expected to provide fair practices and transparent information. The law protects borrowers from predatory lending: unfair, deceptive, or fraudulent practices in the lending process. It also includes provisions for what should happen in case of default.

Frequently Asked Questions

What happens if I default on my mortgage?

Defaulting on a mortgage in Hong Kong typically leads to the lender starting legal proceedings to recover outstanding debt. It may result in a forced sale of your property. However, laws exist to ensure this process is fair and the borrower has rights to protect.

What rights do I have as a borrower?

Borrowers have the right to receive clear and fair terms of agreement, to be protected from fraud, and cannot be discriminated against by lenders. They have the right to sue in case of predatory lending practices by the lender.

Can I negotiate my mortgage terms?

Mortgage terms are usually negotiable. This involves interest rates, term lengths, or repayment structures. A mortgage lawyer can help negotiate these terms on your behalf.

What is predatory lending?

Predatory lending refers to unfair, deceptive, or fraudulent lending practices. This can include charging excessively high interest rates or deceiving borrowers into signing unfavorable terms.

Can a foreigner get a mortgage in Hong Kong?

Yes, foreigners can get a mortgage for properties in Hong Kong, but the terms might be less favorable compared to residents with additional restrictions applied.

Additional Resources

The Hong Kong Monetary Authority (HKMA) regulates all banking institutions in Hong Kong, including mortgage lenders. For dispute resolution related to mortgage, the Financial Dispute Resolution Centre (FDRC) is a recommended venue. One can also consult the Hong Kong Mortgage Corporation Limited (HKMC) for various mortgage resources.

Next Steps

If you need legal assistance in matters related to mortgage in Sheung Wan, it is recommended to start by seeking a qualified mortgage lawyer. They can show you how to navigate the territory’s complex legal framework and assist in various situations, from signing a mortgage agreement to dealing with a potential default scenario.

Lawzana helps you find the best lawyers and law firms in Sheung Wan through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Mortgage, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Sheung Wan, Hong Kong—quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.