Buying a Home in Israelthe English guide
Why you should use an Israeli Mortgage Broker
Israel has recently seen a 30% increase in citizens hiring mortgage consultants. It’s important to realize that Israel does NOT require mortgage brokers to have a professional license in order to operate. Because it’s a relatively new field, there is little oversight.
This results in a lot of brokers who are not equipped to handle the complexities of mortgages and negotiations, among countless other issues.
There is, however, an organization called the Israel Mortgage Advisors Association, which is the only recognized organization for mortgage consultants. They ensure that their members are fully qualified to work in the field. They work closely with the regulators in Israel and have convinced them of the importance of mortgage brokers in Israel.
So your FIRST step is to make sure that your consultant is certified by the Israel Mortgage Advisors Association.
Benefits of Working with a Mortgage Advisor/Broker:
Ensures you have the proper understanding of the different loan options available and tailors the best mortgage for your personal financial needs.
Negotiates on your behalf at the different banks, ensuring you receive the best rate. Good brokers can save you tens of thousands of shekels.
Provides support and knowledge to ensure the property purchased is most suitable for the buyers.
Helps navigate through the complicated Israeli bureaucracy and regulations, simplifying the process substantially and preventing unwanted surprises.
Finds you the right bank for your mortgage.
These reasons, and others, make it important to find an experienced mortgage broker to represent you.
Professional Contacts and Networks
Malchi Mortgages works with a super array of professionals in the housing field, including renovators/contractors, lawyers, appraisers, insurers, etc.
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