Professional information
How to Choose a Mortgage Advisor
What is important to know about the mortgage advisory field in Israel, before choosing who will guide you through the most significant financial decision of your life.
The state of regulation: an unsupervised field
Unlike other financial professions such as investment advice, the mortgage advisory field in Israel is currently not supervised by a government regulator. In practice, anyone can declare themselves a "mortgage advisor" without training, an exam or a mandatory license. A draft bill exists to regulate the field - including certification exams, a professional council and a ban on advisors receiving compensation from financial institutions - but as of today it is still going through the legislative process and has not become binding law.
The practical meaning: checking who is guiding you is your responsibility, and not something to be taken for granted just because someone presents themselves as an expert.
What is the Israeli Mortgage Advisors Association
In the absence of government regulation, the Israeli Mortgage Advisors Association functions as the leading professional body in the field - with a management board, an ethical charter and a voluntary exam for its members. Membership in the Association is not a legal requirement, but it is a sign that the advisor chose to be examined and to meet a professional standard beyond the required minimum (which, as noted, does not currently exist). Shmuel Safanyayev is a member of the Israeli Mortgage Advisors Association, and has been working as a mortgage advisor since 2019.
How to choose the right mortgage advisor
Experience and track record
How many years the advisor has been active in the field, and how many files they have actually guided - not only how long they have been registered as self-employed.
Membership in the Israeli Mortgage Advisors Association
Membership in the professional body requires passing an exam and adhering to an ethical charter - a voluntary standard, but a meaningful one in a market where anyone can declare themselves an advisor.
Personal guidance versus a call center
Check whether the same person who guides you in the first call is the one who will guide you to the end, or whether you are passed between different representatives.
Transparency in pricing
A serious advisor explains in advance how and when they are compensated, and does not leave it as a surprise at the end of the process.
Genuine reviews that can be verified
Google reviews with full names are preferable to anonymous testimonials on a website - you can also ask to speak with a previous client.
How this shows up with us
Every file at Bar Ors Finance is personally guided by Shmuel Safanyayev himself, from the introductory call until you receive the keys - with no call center and no hand-offs between representatives. You can read more about our background and professional approach , or start directly with the mortgage guide.
Frequently asked questions
Does a mortgage advisor need a license in Israel?
Not at present. The mortgage advisory field is not supervised by a government regulator, and there is a draft bill to regulate the field that has not yet passed. As long as this is the case, membership in a professional body such as the Israeli Mortgage Advisors Association is one of the meaningful signs of seriousness.
What is the difference between an independent mortgage advisor and a bank mortgage representative?
A bank representative represents the bank and offers only its products. An independent advisor is not tied to a particular bank, compares several banks in parallel, and represents your interest alone.
Is there a certification exam for mortgage advisors?
The Israeli Mortgage Advisors Association holds a voluntary exam for its members, but there is no legal obligation to pass it in order to operate as a mortgage advisor - so it is important to check whether the person you are working with is a member of the Association.
When is it worth turning to a mortgage advisor instead of going straight to the bank?
Almost always - the initial consultation is free in most cases, and you lose nothing except making sure you see all the options before you commit.
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