Written and professionally reviewed by the Ailon Financing Solutions team
The price should be measured against the scope of work
The question "how much does a mortgage consultant cost" is important, but an amount without a service specification does not allow comparison. A low offer for a mix test alone is not equivalent to full support that begins with the capacity test, goes through approval in principle and negotiations and ends with the execution of the mortgage and the handling of collateral.
Before comparing prices, make sure that all offers refer to the same scope of work and the same stage of the process.
which may affect the fee
- Employee versus self-employed or company owner
- A normal purchase versus a price for a tenant or a contractor deal
- A new mortgage versus a complex cycle
- Income from abroad or foreign resident status
- Credit data, commitments or previous refusal
- The number of borrowers and assets involved
- Short schedule or need for urgent care
- Point-of-care support versus full care until the funds are transferred
High complexity does not necessarily mean that the transaction is not possible. She says more planning, documentation and control are required.
What should a written proposal include?
A good quote details who handles the case, what tests are performed, what you get at each stage and when each part of the fee is paid. It is desirable that the proposal specifically address the following issues:
- Checking income, liabilities and equity
- Assessment of mortgage amount and repayment ratio
- Preparation of documents and submission of applications for approval in principle
- Building a mix and explaining the risks
- Comparison between bank offers and negotiations
- Checking the final approval and the accompanying conditions
- Escort during the collateral phase until the execution of the mortgage
- Conditions in case of delay, change of transaction or termination of the process
How to compare the value and not just the price
The possible savings are not measured only by the lowest interest rate. A mix that is too short can create a high monthly repayment, and a mix that is too long can greatly increase the total cost. A linked track may start with a lower return but expose the fund to the index.
Therefore, the first repayment, the expected high repayment, the total cost, the interest change points and the ability to pay off early should also be compared. The Bank of Israel requires the banks to present uniform baskets and comparative data designed to facilitate the examination of the proposals.
You can useA tool for comparing two mortgage offers and inThe mortgage calculator to check the numbers before making a decision.
This is how you come to the conversation prepared
There is no need to provide sensitive information to understand if the escort is suitable. You can start using The smart summary of needs or Diagnosis of readiness for a mortgage. The tools arrange the data and present the points that are important to find out.
At Ailon, the first call is free of charge and without obligation. If you decide to move forward, the fee is determined in advance in writing according to the complexity of the case and the scope of the support, and is not calculated as a percentage of the mortgage amount. The company does not receive a commission from the banks.
