At a glance
A mortgage loan in a foreign currency, for a period of up to 20 years. The mortgage is based on the LIBOR interest rate with a fixed spread, and payments are made quarterly (every three months). Foreign currency loans are available in the following currencies: USD, GBP, EUR, CHF, CAD.
Who can benefit from a foreign currency mortgage?
Foreign residents who receive their income in a non-shekel currency and are interested in purchasing a property for investment purposes.
What are the advantages of a foreign currency mortgage?
The most significant advantage of this type of mortgage is that it can be paid off early without incurring a penalty, when providing notice at least 10 days in advance, up to 45 days from the date such notice is received.
Provision of credit is at the sole discretion of the bank. Failure to comply with loan repayment may result in interest on arrears and repossession proceedings.
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