Coverage is from the Mizrahi-Tefahot Real Estate Conference on financial opportunities for foreign residents and olim that was held in collaboration with The Jerusalem Post.
Attorney and notary Efrat Levy; Chaim Friedman, partner and manager at First Israel Group; and Yedidya Spetter, mortgage manager for foreign residents at Mizrahi-Tefahot Bank, participated in a panel entitled “The Key to Financing: Mortgage Challenges for Foreign Residents in Israel” at the annual real estate conference of Mizrahi-Tefahot Bank on business and financial opportunities for foreign residents and new olim, held at the Sera Events Hall in Emek Ha’ela.
The three discussed the unique challenges pertaining to mortgages for foreign residents in Israel.Levy, who has extensive experience working with US, South African, and British citizens in real estate purchases in Israel, said that understanding the needs of foreign buyers – whether the property is for aliyah, investment, or a vacation home – is key to the purchase process.
Friedman, who has worked in the mortgage field both in Israel and the US, said it is imperative that mortgage bankers provide full transparency regarding the mortgage process to foreign residents. “There cannot be any surprises. If there are, the deal may fall through.” He added that foreign residents and mortgage bankers must discuss mutual expectations and requirements from the outset.
Coverage is from the Mizrahi-Tefahot Real Estate Conference on financial opportunities for foreign residents and olim that was held in collaboration with The Jerusalem Post.