Adust the mortgage to changing circumstances of life
As we progress through life, our environmental and economic circumstances change.
Whether the changes are economic changes like a decrease in the prime interest rate or increase in the Consumer Price Index, or personal changes such as a growing family or a promotion at work and an increase in pay.
All these require appropriate economic management and preparation.
Adjusting the mortgage to your needs is called mortgage recycling.
When you recycle your mortgage, you take a new mortgage that is appropriate for your current needs and settle the existing, old mortgage.
Which components are likely to change during the recycling process?
• The terms of the loan (interest rates, interest change date, method of repayment, etc.)
• Duration of loan period
• Monthly repayment amount
Even if your existing mortgage is from another bank, you can recycle it at Benleumi, under the conditions most suitable for you.
We are set up to help you plan your family’s economics, in respect to the changes in your life and in your financial situation.
We accompany you though every step of the way; from the planning stage, accompanying you though the process and precisely customizing the new mortgage to your needs, to the repayment of the old mortgage in favor of the new, updated one.