Two months after the war broke out in December 2023, non-bank financing (mainly loans for buying vehicles) company Mimun Yashir founder and CEO Eran Wolf stepped down after 18 years in the job. In his resignation letter to employees Wolf promised that he was embarking on a new journey. Since then, there has been speculation about the new enterprise he plans to found. Today, he has unveiled a new non-bank credit company called Loanwise, which will provide mortgages to Israelis, including for the first time a mortgage for the purchase ofa residential property in Greece and Cyprus.
Loanwise, which Wolf has founded, has already received an expanded credit license from the Israel Securities Authority and has even raised initial capital from several of Israel's leading financial institutions. The company notes that the investment in it was led by Migdal Insurance, and alongside investors such as Hachsharah Insurance and IBI Underwriting, which have invested tens of millions of shekels.
Wolf's company plans to provide mortgages in Israel, with the target public being customers who have difficulty obtaining mortgages from banks, even though, according to Loanwise, they have good credit standing. Mortgages will also be provided to investors in apartments in Israel and investors in apartments abroad.
Providing mortgages for the purchase of real estate abroad is a new development for Israeli investors. Loanwise plans to provide swift mortgage approval processes using an innovative mortgage credit model that will enable a fast digital underwriting process. Those who purchase properties abroad will be able to receive financing of up to 50% of the property price, with the option of mortgaging the purchased property in the target country (in the first phase: in Greece and Cyprus).
Growing investment channel
The company sees mortgages for buying homes abroad as a growing investment channel among an increasing number of Israelis. These Israelis are seeking to buy real estate abroad due to the high interest rate environment in Israel and soaring housing prices. However, until now, Israelis who have sought to purchase real estate abroad have had great difficulty obtaining a mortgage to finance part of the cost of the property.
Loanwise will offer mortgages starting at €50,000 (about NIS 200,000) to homebuyers in Greece and Cyprus, with loans of up to 50% of the property price. The financing will be provided against a lien on the property abroad or against a lien on a property in Israel.
The company says it has developed a unique mechanism for mortgaging assets abroad, which allows it to provide Israelis with more efficient loans to purchase real estate overseas. It intends to focus on low-risk borrowers with high credit ratings. Borrowers who meet these parameters will undergo an especially fast and efficient underwriting process.
Published by Globes, Israel business news – en.globes.co.il – on July 15, 2025.
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