Lately, people have become more and more familiar with the importance of consulting with a mortgage consultant. Interest rates are rising, making mortgages more expensive, and those whose mortgages are built on a risky mortgage mix suffer from an increase in prices with each increase in interest rates. Consulting with a mortgage consultant saves the borrower from mental anguish later on. The Mani Group, the leading team in real estate financing, provides you with information on the subject here.

Why use a mortgage consultant?

Taking out a mortgage involves a long-term commitment. The mortgage loan is the largest loan in the life of the average borrower. How much do we find out before we buy a car, a refrigerator and even a vacation… The prices are very significant and if it turns out that you can get the same value at a lower price, don’t hesitate to go to the cheaper place.

The world of mortgages is not much different from the world of commerce. The banks trade in money, and thus, for every loan they offer, they earn the interest. The borrower can receive the same loan at a lower interest rate, if he only knows how to negotiate the interest rate correctly. Not everyone knows how to negotiate correctly with the bank, so you turn to a mortgage consultant whose job it is: to reduce the price of the mortgage and adapt it to the customer’s abilities as much as possible.

What can a mortgage consultant help you with?

A mortgage consultant is the professional who will assist you professionally throughout all stages of the transaction:

• Even before purchasing the property, you can consult with him and get his opinion regarding the price of the property, whether it is a decent price or if you can get a better value for the price required.
• A mortgage consultant will make sure to check the feasibility of the transaction in relation to the borrower’s abilities. He will make sure to issue approval in principle for the mortgage, he will check the appropriate monthly repayment amount and whether it is possible to build a mortgage mix that will meet all the requirements.
• Before signing the purchase contract, the mortgage consultant will direct you to the payment dates that you can commit to in order to avoid future mental anguish.
• Throughout the entire process of taking out a mortgage, the consultant is the one who will manage the process, ask you for the required documents, submit them to the various banks, and negotiate with them to lower the interest rates. You will enjoy peace of mind regarding a mortgage. You will have to go to the bank to sign the mortgage in the end.
• It is important to note that the mortgage spread and the amount of monthly repayment you will pay each month will be determined according to the mortgage mix that your mortgage consultant will put together in accordance with your financial data. The mortgage consultant maps the existing data and thus builds a mortgage mix that is tailored to the existing data. If the borrower is interested in repaying his mortgage in a few years, the mortgage consultant will build a mortgage mix that will include the possibility of early repayment without the need to pay a penalty for an early repayment fee. And this is just an example.

Why do you need a private mortgage consultant?

The banks profit from every mortgage loan they approve. After all, the banks don’t run a Gemach, and for every loan they give, they get a profit in the form of the interest they charge. The bank, like any other business, has a goal: to increase the percentage of profit, and therefore it does not hesitate to use any marketing means.

As part of the marketing system, it places mortgage clerks at the bank who present themselves as mortgage consultants on behalf of the bank who provide free service to the bank’s customers. Thus, customers turn to them, forgo consulting with a private mortgage consultant, and the person who manages the mortgage for them is actually a representative of the bank who has no interest in lowering the mortgage price. For every high interest rate that the bank representative manages to incorporate into the customer’s mortgage mix, he receives compensation from the bank…

In contrast, a private mortgage consultant has a common interest in the borrower. For both of them, the goal is to adapt the loan to the borrower’s living conditions and to make it as cheap as possible. Although private mortgage counseling requires paying a few thousand shekels, the savings are clear: the borrower receives the best and most suitable mortgage interest rates. A 1% reduction in the mortgage interest rate can be 100,000 shekels or even more…

Those who want an affordable and inexpensive mortgage should consult with a private expert mortgage consultant.

How much does a private mortgage consultation cost?

The price of mortgage advice can vary depending on the complexity of the case. The basic price when it comes to a simple mortgage file without special complexity, ranges from NIS 5,000 to NIS 10,000. When it comes to a complex mortgage case, such as a mortgage after receiving a refusal from the bank or a mortgage with multiple borrowers, the price of raising financing will vary according to the complexity.

There is no control over the prices of mortgage advice, so before you choose one, check if it is a fair price in relation to the market prices and the complexity of your mortgage. A price that is too high or too low should be a deterrent.

How do you choose a mortgage consultant?

When choosing a mortgage consultant, you want to get a fair return for your expensive expense. No one wants to pay a professional and find out that the job they got could have been better. So what is important to check when choosing a mortgage consultant?

Recommendations – There are quite a few mortgage consultants who can provide you with an answer. But before you turn to one, find out about it, look for an opinion. Testimonials can be heard directly from a satisfied customer, but social networks can also provide a solution for searching for information about a professional.

Seniority – You don’t want to go to a mortgage consultant who is new to the field and you are his guinea pig… An experienced mortgage consultant will be with many recommending clients. The experience adds skill to the consultant and thus he will be able to solve problems and save you time and money.

Courteous and available service – no one wants to feel that they are being treated with a favor when their mortgage file is handled… Contact a mortgage consultant with courteous service who puts the customer first and remains available for the customer’s questions. Whether it’s a consulting firm or a private consultant, make sure you have someone to deal with along the way.

Expertise – Prefer a mortgage consultant with expertise in the field of mortgage you need. If you are for example a mortgage refusal, look for a consultant who specializes in raising mortgages for those who have been refused. And this is just an example. The expertise can be in a variety of types of mortgages: foreign residents, self-construction, reverse mortgages, and more. A mortgage expert for self-construction does not necessarily know how to solve mortgage problems for those who are refused… Remember this.

Price – The price that the mortgage consultant charges you says a lot. Do not contact a consultant who charges a price that is too low compared to the market price. A drastic price reduction requires clarification. Experienced and successful mortgage consultants do not charge a low price.

Intuition – Your gut feeling has something to determine. There’s nothing like consulting with a professional who understands you. Listen to your inner intuition. You need the professional you are contacting to understand your needs and requirements.

Consult with experts in the field

If you are looking for an expert mortgage consultant, you no longer have to look. Among the services of the Mani Group is a mortgage consulting department that specializes in particularly complex mortgages. The company is engaged, among other things, in providing support and raising financing in real estate investments, finding financing solutions and establishing various projects.

You are welcome to receive professional guidance from a mortgage consultant who specializes in the field throughout the entire process. Taking out a mortgage is a long-term commitment and requires proper financial planning.

Want to check and consult with our experts on the subject of mortgages?
Contact us today to meet with our mortgage consultants!