Of money
All articles
Mortgages: Banks are facing a wave of inquiries
Peak demand and regulatory changes have led to an influx of inquiries to the mortgage banks' service centers, which are having difficulty meeting the influx of inquiries.
A senior official at one of the banks: "Customers complain, usually rightly, but in the end everyone closes deals"
Tags
Real Estate
National Mortgage
The workers
Bank Hapoalim
National Bank
Leumi Mortgage Bank
Customer Service
Walla!
Of money
Monday, 24 May 2021, 10:28 Updated: 11:38
Share on Facebook
Share on WhatsApp
Share on general
Share on general
Share on Twitter
Share on Email
0 comments
If you have tried to get an offer for a new mortgage, drag, refinance or make any other change, you already know the problem closely.
For those who have not experienced the dubious pleasure: waiting times that sometimes reach up to an hour, leaving details for the purpose of a repeat call that does not come and many other cases that indicate an erosion in the ability of service centers to respond.
Throwing the blame on the banks is an almost desirable act, but in fairness, this time they seem to deserve some discounts: a combination of peak demand and regulatory changes has led to an unprecedented number of applications to mortgage banks, while lacking service representatives and meeting the purple mark - that is - fewer meetings Face to face with customers, they brought the mortgage banks into an unpredictable situation.
How did we get into this situation and what can be done?
The second question is easier to answer: to be patient with a little patience.
As for the first - it is worth knowing the facts.
The future is already here
The smart test that detects an increased risk of stroke
In collaboration with Shalach
To the full article
Michal Dan, Director of Retail Credit and Mortgages at Bank Hapoalim (Photo: Rami Zranger)
When peak demand meets change in regulation
We will start with the news that is directly related to the boiling real estate market, and the reasons for the load of referrals, which we tried to analyze with the help of executives at the two major banks: Hapoalim and Leumi.
Michal Dan, director of retail and mortgage credit at Bank Hapoalim
: This is due to three main reasons: The
low interest rate pushes young couples to prefer buying an apartment over renting and also gives investors a boost.
The fear of a continued rise in housing prices also encourages buyers not to wait any longer for the fence.
And of course the regulation which reduced the purchase tax on investment apartments and removed the prime limit which also pushes additional investors into the market. "
Uri Unisi, VP of Mortgages and Customer Relations at Bank Leumi
, Expands on the reasons: "We are at an all-time high in the mortgage market. In recent months, we have been providing loans in the amount of close to NIS 8 billion, which means about NIS 95 billion a year. The main reason for the increase is that young couples are no longer waiting for a new government. "At the same time, they see what is happening to prices and understand that if they do not hurry, the apartment may become more expensive by another 5% -10%. Therefore, those who have the necessary initial amount, hurry to close deals."
Unisi also addresses all the reasons and adds to the equation also the investors from Israel and abroad who returned to the real estate market - from Jews living abroad and rediscovering Israel in the Corona year to local investors who took advantage of the change in tax regulations and returned to purchase apartments.
Both Unisi and Dan mention the low interest rates that make it easier for mortgage takers and the changes in the purchase tax and the removal of the prime limit, but according to Unisi some customers who already own mortgages just want to see if the change in regulation can be reflected in existing loan savings. But some customers just want to hear the banker translate the meaning of the change into their language. "
Uri Yonisi, VP of Mortgages and Customer Relations at Bank Leumi (Photo: Kfir Sivan)
Increasing the number of employees and promoting digital
We have reached the solution stage: "In order to deal with the congestion, we are increasing the number of our consultants
both in the branches and in the centers," says Dan, adding: "In order to receive an initial and quick response, we have an accessible and convenient Internet interface. Allows the client to obtain approval in principle for a mortgage and then, as the client progresses in the transaction, he is scheduled for a telephone or physical meeting with one of our advisors. "
Eunice expands: "We have quadrupled our banking staff, but it should be understood that it is not simple. The process of training a mortgage banker takes at least a month in the classroom. That is - it is not a solution from one day to the next, and certainly not unprofessional staff. ".
Despite the manpower shortage (the two did not mention it, but as long as the application continues, it is very difficult for companies to recruit employees for service centers), Unisi is proud of digital solutions designed to make it easier for customers: "You can recycle your mortgage online and the simulator we mentioned, but there is another like her bureau zoom - and all - as much as possible to protect the client and harass him as much as possible, we're there. "
We also went to Bank Mizrahi Tefahot, that his client had quite a few complaints about long waiting times than usual at the service center mortgage, but the bank chose not to provide answers .
Share on Facebook
Share on WhatsApp
Share on general
Share on general
Share on Twitter
Share on Email
0 comments