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  • Taking out a mortgage is never easy
    Ajouté le 20/01/2016 à 15h22

    Taking out a mortgage is never easy, it is a decision that commits you and your bank and links your heritage in the real estate market.
    You have to know:
    - Which bank?
    - What to choose?
    - Have I got the best rate?
    - Will I be able to make prepayments without penalty?
    This decision is more complicated in Israel, due to many factors:
    - The illusion of a match between the rules of accession to the land property in France and Israel,
    - The language barrier,
    - The diversity offered by banks formula
    - The semantic formula: a loan proposed by such Israeli bank may have the same name as given by such other French bank formula but can be completely different.
    Nowadays people don’t sign an acquisition contract without a lawyer. So nobody should also apply for financing without calling a specialist, defending, like the lawyer, his interests from banks.

    How to take out a mortgage in Israel?
    The purpose of this section is to simplify the various component steps of a mortgage, the availability of parts needed to build your folder, until the release of funds.
    We won’t go here into the technical aspects of mortgage but we’ll describe the steps to put you in a position to understand.
    Papers and technical analysis of the folder’s installation:
    First, it is important to clarify that there is no charge for taking care of your folder!
    In this step, we will collect documents requested in advance by email, you will be sent, and then we will proceed with the analysis and the feasibility of your project.
    We will choose the installation that best suits your credit solvency and to optimize at best, your assets, as real estate or financial.
    After this step, your application is proposed to our partner banks.
    Your file bank:
    At this step, we have to defend, like a lawyer, your case and your interests from banks.
    We first have to review all your papers with bankers, but also to explain your situation. Then we explain the financing desired and the way you want to pay (indexing, penalties refunds, etc...).
    Finally, we defend your case to an agreement in principle, which will be issued on the basis of several factors, your solvency, financing desired, your professional profile, property type, etc...
    The agreement in principle:
    The sale is conditional upon obtaining a mortgage, as stipulated in the suspension clause funding.
    We highly recommend you to begin the different steps to obtain an agreement in principle in order to find an apartment. When you obtain this agreement, you will be able to proceed with the ratification of the acquisition agreement, a bank that promised financial support on the basis of the evidence we have received.
    Bank selection
    Once we have obtained different agreements principles of our partner banks, we will process a "competition" of our partners. At the end we will select the proposal that best fits your profile and project.
    Ratification of the loan agreement
    We will go together to the selected bank to proceed with the signing of the loan agreement.
    Note that a proxy-holder may also represent borrowers, so it is not necessary for you to go to Israel for the different steps described in this topic.
    The proxy-holder will usually be your lawyer, but can also be another person that you have selected.
    The "guarantees"
    In this step, we will fulfill the different steps requested by the bank for the release of funds, like :
    - The valuation of your property,
    - The registration of your credit to the land register
    - The letter of obligations of the parties
    - The registration of your credit in the records of the government agency responsible for centralizing the various loans taken in Israel
    - The purchase of various insurance required by the bank; for this step, we will ask an insurance broker recognized bank to get in touch with you.
    This list is not exhaustive so you are free to check with us on all the steps constituting the guarantees.Checking your file
    At this step, the bank is checking all parts she received and gives us the permission to transfer the funds.
    The release of funds
    The bank gives us the funds !

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