Why Use a Mortgage Brocker?
Mortgage brokers are educated in the field and are regulated by licenses. Brokers offer the borrowers different plans from various lenders. They can be employed by a firm or can work privately. People looking for a mortgage loan hire these professionals to help them find what they are looking for. They understand the market, their client’s needs and find loans accordingly. Mortgage brokers are usually in constant contact with different lenders so that they have a range to choose from.
First of all, there are numerous types of mortgages available, and each of these have several different parameters and technicalities that can be quite confusing for a layman. A good mortgage broker will help sort out all this information and also explain the different types of deals available in the market. Once all this information is sorted out, the broker can help you narrow down the information to finally choose which mortgage is best for you. It is hard to learn all the legalities related to mortgages, this is where the broken steps in to help you deal with the legal aspects of the mortgage.
Article Source: http://www.EzineArticles.com/6853774
By Irit Avissar
May appears to be a particularly strong month for mortgage taking due to concerns that the purchase tax on home purchases for investment might rise. Sources in the banking sector estimate that mortgage taking in May might cross the NIS 5 billion threshold, about 10 percent above the monthly average in the past year.
“The past month has seen hysteria for mortgage banks, and contractors have also witnessed and encountered huge demand,” a senior banking source said. Recent months have been strong in the mortgage market. Mortgages worth NIS 5.6 billion were taken in March, with more modest amounts of NIS 4.71b. in April, NIS 4.62b. in February and NIS 4.57b. in January
The positive sentiment began with the cancellation of former finance minister Yair Lapid’s 0% VAT plan, which brought many young couples off the fence and into the market. The aftermath of the cancellation is still being felt.
Another likely factor is that Finance Minister Moshe Kahlon plans to raise the purchase tax on homes bought for investment.