Please note: advisory meetings and the service itself are provided in Hebrew only. These guides are here so you can read and understand the topic in your own language.
The mortgage clerk at the bank can be very professional and very nice, but they work for the bank. An independent mortgage advisor works for you. That is the main difference.
What does a mortgage advisor actually do?
- Maps the situation – income, equity, liabilities and plans.
- Builds a mix – according to your goals and risk, not according to what suits the bank. How to build a mix
- Prepares the file – documents, explanations and the right presentation to the banks.
- Runs a tender – submits to several banks and uses the offers to improve the terms.
- Accompanies you to the end – appraisal, insurance, signatures and the transfer of funds.
When does it pay off most?
- A first mortgage – when there is no experience and many decisions.
- Complex cases – the self-employed, upgraders, a new apartment from a contractor, a problematic credit history.
- Refinancing – when fees need to be weighed against savings. When to refinance
- Lack of time – when you do not have the energy to run between banks.
When might you not need one?
If you have experience, a simple file, time to run a tender yourself, and confidence in understanding the tracks, you can manage on your own. A good advisor will tell you that honestly.
How to choose an advisor
- Transparent pricing – a price set in advance. How much does an advisor cost?
- Independence – an advisor who does not receive a commission from a particular bank.
- Availability – who answers the phone when the bank asks for another document.
- Real recommendations – from real clients.
Elia's tip: Ask every advisor in the first meeting: "What will you do if you find that refinancing is not worth it for me?" The answer will tell you a lot about their honesty.
This article is general information and is not personal advice or a commitment. Rules, interest rates and taxes change from time to time, so check the current situation and your own figures before any decision.