Regulatory Alerts2016-05-01
Added
Limitations on issuing of housing loans
The Bank of Israel amends Proper Conduct of Banking Business Directive no. 329 to revise the calculation of the financing rate for the purchase of reduced-price dwellings. Banking corporations may base the property value on an assessor’s evaluation instead of the purchase price, provided the value does not exceed NIS 1.8 million. For dwellings valued above NIS 1.8 million, the calculation must use NIS 1.8 million or the purchase price, whichever is higher, and purchasers must contribute at least NIS 100,000 of their own funds. These amendments apply from the date of the circular's publication.
More like this from BOI
We email you every new BOI publication the day it's published.
Topics
Share