{"id":127864,"date":"2022-07-20T15:51:37","date_gmt":"2022-07-20T08:51:37","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-to-cut-out-lawyers-role-in-mortgage-transfers-in-pilot-plan-to-protect-buyers-from-insolvent-legal-firms\/"},"modified":"2022-07-20T16:31:06","modified_gmt":"2022-07-20T09:31:06","slug":"hong-kong-to-cut-out-lawyers-role-in-mortgage-transfers-in-pilot-plan-to-protect-buyers-from-insolvent-legal-firms","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-to-cut-out-lawyers-role-in-mortgage-transfers-in-pilot-plan-to-protect-buyers-from-insolvent-legal-firms\/","title":{"rendered":"Hong Kong to cut out lawyers\u2019 role in mortgage transfers in pilot plan to protect buyers from insolvent legal firms"},"content":{"rendered":"


\nAs many as 25 law firms became insolvent over the past 10 years, trapping more than HK$530 million of funds by 1,500 homebuyers in escrow, requiring them two years on average to get their money back, according to a Legislative Council document and court papers.
\n
\nSource : South China Morning Post
\nRead more…Hong Kong to cut out lawyers\u2019 role in mortgage transfers in pilot plan to protect buyers from insolvent legal firms<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As many as 25 law firms became insolvent over the past 10 years, trapping more...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-127864","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-xgk","jetpack-related-posts":[{"id":124012,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-to-scrap-middleman-role-of-law-firms-in-mortgage-transactions-to-protect-homebuyers\/","url_meta":{"origin":127864,"position":0},"title":"Hong Kong to scrap middleman role of law firms in mortgage transactions to protect homebuyers","date":"December 29, 2021","format":false,"excerpt":"\r The role of lawyers as middlemen in residential mortgage transactions is to be abolished under new rules designed to protect Hong Kong homebuyers.The change will allow a bank to pay the mortgage loan secured by a homebuyer directly into the bank account of the seller electronically. The buyer would\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92913,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/7000-estate-agents-at-risk-of-going-to-the-wall-says-study\/","url_meta":{"origin":127864,"position":1},"title":"7,000 estate agents at risk of going to the wall, says study","date":"July 1, 2018","format":false,"excerpt":"\r High street operators face \u2018triple whammy\u2019 of internet competition, falling prices and fee cutsMore than 150 estate agency firms went insolvent last year and as many as 7,000 are at risk as high street operators face the triple whammy of online competition, a sagging property market and cuts to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92963,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-than-7000-uk-property-agents-risk-going-bust-says-study\/","url_meta":{"origin":127864,"position":2},"title":"More than 7,000 UK property agents risk going bust, says study","date":"July 2, 2018","format":false,"excerpt":"\r More than 150 estate agency firms went insolvent last year and as many as 7,000 are at risk as high street operators face the triple whammy of online competition, a sagging property market and cuts to letting fees. A study by accountants Moore Stephens found that 153 estate agency\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54115,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-homebuyers-turn-to-finance-companies-as-banks-tighten-mortgage-lending\/","url_meta":{"origin":127864,"position":3},"title":"Hong Kong homebuyers turn to finance companies as banks tighten mortgage lending","date":"May 9, 2017","format":false,"excerpt":"\r Buyers of new flats seeking to minimise their down payments are increasingly choosing home loans from finance companies, which are beyond the reach of the banking regulator, according to a survey. Centaline Property Agency found that nearly 18 per cent, or HK$2.6 billion, of the estimated HK$14.7 billion in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25933,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/business-as-usual-say-london-property-firms-as-hong-kong-investors-continue-to-favour-uk-capital\/","url_meta":{"origin":127864,"position":4},"title":"\u2018Business as usual\u2019, say London property firms as Hong Kong investors continue to favour UK capital","date":"September 13, 2016","format":false,"excerpt":"\r Forget Brexit doomsday prophecies and stamp duty rises \u2013 London property developers reported continued strong interest by Hong Kong and mainland buyers in the UK capital.\r \r Source : South China Morning Post\r Read more...\u2018Business as usual\u2019, say London property firms as Hong Kong investors continue to favour UK\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24364,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bank-of-chinas-hong-kong-unit-cuts-mortgage-rate-to-lure-buyers-offset-concern-of-us-rate-hike\/","url_meta":{"origin":127864,"position":5},"title":"Bank of China\u2019s Hong Kong unit cuts mortgage rate to lure buyers, offset concern of US rate hike","date":"August 30, 2016","format":false,"excerpt":"\r Bank of China\u2019s Hong Kong unit said it has cut its mortgage rate by 10 basis points, offering the cheapest loan in the city to attract buyers and offset rising concern of a possible rate increase in the US.\r \r Source : South China Morning Post\r Read more...Bank of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/127864"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=127864"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/127864\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=127864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=127864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=127864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}