Turkish property Mortgages
Turkish mortgage rates for purchasing a property in Turkey are from approximately 4.80%. Currencies that are available – Euros, Sterling, Swiss Francs and US Dollars.
Please remember that if the property is being built, funds are not available until completion and the property has been legally registered in your name.
If you are considering purchasing a property in Turkey, Turkish Mortgages are available for the majority of Nationals for either house purchase or re-financing for home improvements. Mortgages for other purposes may also be considered.
We are able to obtain pre-approval of mortgages for customers, so whether you are at the very early stages of thinking about purchasing a property in Turkey, already found your new property, or currently have a mortgage on your Turkish home and wish to save money, we may be able to help you.
Can I Get a Mortgage in Turkey?
I am a foreign national, can I get a mortgage in Turkey? – Yes, many different nationalities may be able to get a mortgage.
How much can I borrow? – The minimum that you can borrow is 30,000 Euros. There is no fixed maximum but the lender will only lend up to 75% of the value of the property. 100% mortgages are available but only if the property you are purchasing has been sold at a significant discount.
What type of mortgage is available and what is the term? – Repayment mortgages are only available for a maximum of 20 years and up until the age of 75.
What proof of income do I require? - Required in all cases (can be made up of Earned Income, Pension, Investment or Rental Income. Please note however, it is not always the case that the Lender will take all or part of these Incomes into account when determining the maximum loan available).
Do I need Insurance on the property? – You will need to have insurance on the property as a condition of the mortgage.
What currency can I borrow in? – You can get your mortgage in Sterling, Euro's, US Dollars, Swiss Francs or Japanese Yen.
What if I have adverse credit, like late payments, CCJs or defaults? – Even if you have adverse credit it will be worth talking to our mortgage advisor for different options.
How to Apply
Please contact us and we will put you in contact with our mortgage specialist.
Once approval has been given, your mortgage advisor will then arrange for the lenders completed application to be sent to you for signing and returning with the necessary documents:
• Certified copies of passports
• Proof of income
o Self employed – 2 years accounts and tax returns
o Employed – 3 months payslips and latest P60
• Last 3 months personal bank statements
• Current loan or outstanding credit statements
• Latest Mortgage statement (home loan)
• Business accounts and last 6 months business bank statements, if self employed
• Credit report. If you have adverse credit, please still contact us – we can still assist you.
ABOVE IS THE MIMIMUM REQUIREMENTS BUT THE LENDER MAY ASK FOR FURTHER DOCUMENTATION TO BE PRODUCED BEFORE ACCEPTING A MORTGAGE LOAN FOR OFFER