Assistance in obtaining a mortgage loan in Turkey
Assistance in obtaining a mortgage
Many of us would like to have their own "cozy corner" on the sunny Mediterranean coast, where, being tired of the hustle and bustle of the daily routine, you can get away for a little while, forget about the intrusive reality, plunge not only in the tender sea, but also in the serenity, beauty and comfort.
However, unfortunately, for most of us purchasing real estate on the Turkish land, largely due to the lack of funds or unwillingness to spend all your savings at once, to this time has been something like a mirage.
But things have changed!
Homelet Real Estate, together with turkish banks, is pleased to announce that now foreign citizens can obtain a mortgage loan in Turkey.
So let the question of buying real estate in Turkey now become for you not a rhetorical one, but one that is open, clear, and capable of being very quickly settled, and our company will always be ready to become your faithful captain and guide in the sea of Turkish real estate and banking.
|General terms and conditions for the obtaining of a mortgage loan for individuals with foreign citizenship in Turkey.|
|1 - Maximum loan percentage||- up to 50% of the appraised value of the real estate|
|2 - Financed property type||Existing housing|
|3 - Monthly payments||Maximum 50% of the gross monthly income of the Borrower|
|4 - Maximum loan amount||Not limited|
|5 - Minimum loan amount||25.000 Euro|
|6 - Payback period||From 12 to 180 months (15 years)|
|7 - Loan currency||Euro, U.S. dollar, British pound, Turkish lira|
|8 - Interest rate type||Fixed rate|
|9 - Early repayment opportunity||With 2% penalty|
|10 - Expert examination / Appraisal||To be performed by a special expert company of the bank. Payable by the Borrower. Average cost is about 150 euros.|
|11 - Borrower’s age||25-70 years old. Thus, a Borrower who is 60 years old can receive a loan only for 10 years, and a Borrower who is 65 years old — only for 5 years!|
|12 - Maximum term of a loan||15 years|
|13 - Insurance||Mandatory DASK — against earthquakes, total property insurance, Borrower’s life insurance|
|14 - Life insurance||Mandatory|
|15 - One-time fee for loan processing||2% + additional costs for the expert examination of the object and all types of insurance — to be paid by the Borrower at the time of loan payment by the bank|
|16 - Bank’s offer validity period||4 months, and there is the possibility of extension to 18 months, with an additional fee of 1%|
Notes: Obtaining a loan is possible only for foreign citizens-individuals! Getting a loan in the name of a company for foreign nationals who established this company in Turkey, or foreign citizens who have a company in another country of the world under these conditions is not possible!
|Interest rates for direct mortgage lending:|
|Interest rates for loans secured by already existing real estate in Turkey:|
|Documents required to obtain a mortgage loan
||For employed persons
||For those who own their own business
|1 - The tax return for the last year, issued in the Borrower’s country. Form NDFL-2||*||*||*|
|2 - The photocopy of Tapu and Technical Passport of the property being bought||*||*||*|
|3 - A certified by the bank or notarized photocopy of the foreign passport.||*||*||*|
|4 - Information letter on salary issued by the director/employer.||*|
|5 - A notarized signature of the director/employer. The document must necessarily be notarized and apostilled.||*|
|6 - Statements on the Borrower’s bank accounts cash flow (for the last 6 months).||*||*|
|7 - Data on the activities of the company for the last 2 years, provided in conjunction with a list of the co-owners of the company.||*|
|8 - A document showing the Borrower’s monthly expenses (payment of apartment rent, payments on loans, expenses for food, etc.)||*||*||*|
|9 - Documents confirming the Borrower’s title to property (real estate, vehicles, stocks, bonds)||*||*||*|
|10 - A document evidencing that the Borrower has no loan or other debts to a bank or any other structure.||*||*||*|
|11 - A signed by the Borrower application for the mortgage loan.||*||*||*|
|12 - Tax number received in Turkey.||*||*||*|
|13 - Turkish residence permit.|
Loan obtaining procedure: