In This Edition
- Welcome
- Featured Article – Learn How to Navigate the Mortgage
Maze in Israel
- Tip of the Month – Read the small print: Price Linking
- Legal Vocabulary – What is the "Minhal Mekarkai Yisrael"?
- Subscription Information
- For Further Information
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Welcome to Israel Real Estate Law Insights
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Welcome to the latest issue of the Israel Real Estate Law Insights, published by
Nicole Levin Law Offices, experts in all aspects of real estate law in Israel.
You are receiving this newsletter because you signed up for it on our website or
because you filled out a form at a housing fair. Our newsletter focuses on the
legal aspects of buying, selling and renting property in Israel.
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Learn How to Navigate the
Mortgage Maze in Israel
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If you're planning to finance your apartment purchase by borrowing money from the bank, you'll need to know how to navigate the mortgage maze in Israel. Your mission - and you really should accept it -, is to find the best possible mortgage deal with the least amount of headache-causing red tape.
Mortgages for New Immigrants
If you are a new immigrant (oleh) you may be entitled to a mortgage at special interest rates. The best place to get up-to-date information is a mortgage bank. The rules change frequently and you should find out exactly what you are entitled to as an oleh, before you sign a contract to buy an apartment. Remember to bring along your teudat zehut and teudat oleh as proof of your new immigrant status.
Shop Around for Extra Financing
If the oleh mortgage is not sufficient, you can apply for an additional mortgage to make up the amount you need.
The oleh mortgage is subsidized by the Government and the conditions are the same no matter which bank you use. However, any additional mortgage comes from bank funding and conditions may vary between banks. For this reason you would be wise to compare the mortgage conditions at several banks if you need any additional funding.
Check Out Your Mortgage Options
If you're investigating your mortgage options here's what you need to do...
Read the complete article in our articles section.
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Tip of the Month
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When purchasing an apartment from a construction company pay attention
to the small print concerning the linking of the price to the building
index or the consumer price index. This means that the price quoted in
the contract is not the final price and it may rise in the same proportion
that the building index or the consumer price index rise. It is necessary
to understand this so you can plan your finances accordingly. It is possible
to plan the payment schedule around this in order to minimize the rise in price
as a result of the linkage.
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Legal Vocabulary
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"Minhal Mekarkai Yisrael" - This is "the Israeli Land Authority".
This office administers land owned by the government. Since alot
of the land in Israel is owned by the government and the purchasers
get a long term lease for 49 years this is a govertment agency that
many purchasers encounter in their Israeli real estate transactions.
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Subscription Information
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For Further Information
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Additional information can be found at:
http://www.levinlawoffices.co.il/free.shtml
Further interesting articles can be found at:
(NOTE: New articles available!)
http://www.levinlawoffices.co.il/articles.shtml
If you have any further queries please feel free to make use of the Contacts page on our website:
http://www.levinlawoffices.co.il/contact.shtml
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