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The biggest mistake when negotiating a purchase on property in Israel – and how you can avoid it
Caution: Know this before negotiating on property being purchased second-hand, while still under construction by a developer, in Israel.
You might think real estate mortgages in Israel is a boring topic, but actually, every day is an adventure.
We recently did damage control on a case where countless hours of negotiations, paperwork, lawyers fees, appraisal fees, […]
Moshe Kahlon and his Army of Landlords
Moshe Kahlon doubled down on his “Buyer’s Price” program which aims to turn thousands of young Israeli couples into landlords homeowners by announcing that the program will extend until the end of 2019.
Speaking at the International Economic Forum hosted by Calcalist in Tel-Aviv the Minister of Interior said “those who are attacking the program […]
Aliya: When to take your mortgage in Israel
If you are planning on making Aliya and buying a home in Israel, it is important to consider when to take out your mortgage – either before or after making Aliya.
There are advantages and disadvantages to each option, below are a few of the main points to consider:
Taking a mortgage prior to making Aliya:
Advantages
[…]
Knesset backs Mortgage Brokers in Israel
Mortgage brokers in Israel got a big win last week from the Antitrust authority and the Knesset Finance Committee.
In the wake of the recent 2% spike in interest rates despite benchmark interest rates holding steady, the Antitrust authority launched an investigation into mortgage banks’ pricing practices.
Advocate Michal Halperin, the leader of the investigation, reported: […]
The bank is changing my interest rate?!
This is one of those stories that seems to repeat itself time and time again…
Mr. Cohen, a former colleague of mine at First Meridian Mortgage in New York, had waited a long time to be able to purchase a property in Israel. He and his family have been coming to Israel a few times […]
Mortgage in 16 Days @2.4%: A Timeline
February 21: Application received.
The first thing I did was review the contract. The funds were needed on March 1 and there was only a 7 day grace period!
I immediately called the client and told him my feelings regarding the timeframe. “We had a disagreement with the seller which held things up. Do your best”, […]
Mortgage in Israel: Saving $500,000
I wanted to share a recent deal we closed:
Apartment price: $4,470,000
Offer secured through a different broker:
Loan amount: 8,500,000 NIS or 50% LTV – appraisal subject to review
Rate: 4.41%
Life insurance: required
Conversion fee to USD: $25,000
Our offer:
Rate: 3.58%
Loan amount: $2,235,000 -no review of appraisal required
Life insurance: waived
Conversion fee: $0
Total savings over the life of the loan: +$500,000
One […]
Mortgage in Israel: Low interest rates = High mortgage rates?
When I saw my phone buzz at 5:30AM I knew it could only be one person.
My client living in Singapore waiting to discuss a six million NIS approval was the only person who texts me at that time. Given than my wife had recently given birth to twins boys I happened to be up.
“Six […]
“What’s the rate?”
As mortgage brokers, “What interest rate can you offer?” is the question we most commonly hear from our clients – and we can understand why.
Prospective borrowers from most Western countries are accustomed to certain norms in the mortgage market such as financing only being offered in the local currency and standardized conditions amongst lenders.
However, […]
Top 5 mortgage tips and tricks
With the lack of transparency in the mortgage market in Israel one is likely to encounter misinformation and unnecessary “red-tape” when exploring financing options.
As each of the banks in Israel have their own lending parameters we decided to share our favorite mortgage tips to make your home financing needs a reality:
1) No life insurance […]