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Mortgage in Turkey

Mortgage in Turkey

If you made up your mind to buy property in Alanya, you have chance to get a mortgage in Turkey.

We are here to help you to get mortgage in Turkey: from picking up a bank and a product that suits you best and collecting all necessary documents to supporting you in mortgage rates and conditions negotiations and getting things done in a most smooth and comfortable way.

Your personal manager will provide support on every stage of the process up to the point of purchase and ownership registration.

Below you will find list of documents every foreigner must provide in order to get mortgage in Turkish bank:

  • title deed (TAPU) photocopy of the property in question (this is collected from current property owner);
  • certified photocopy of foreign passport;
  • proof of income document (officially signed and sealed);
  • creditworthiness document issued in country of residence;
  • employment verification letter (duly signed and sealed)
  • paid (in country of residence) house bills.

All documents have to be officially translated into Turkish, translation has to be carried out in Turkey by a certified translator.

Mortgage in Turkey – special features:

– mortgage amount can not exceed 50% of the assessed value of property;

– mortgaged property insurance has to be in place for the whole period of credit agreement;

– estimated insurance policy and other documents issuance costs correspond to 2-2,5 % of mortgage amount.

 IMPORTANT NOTE: Paying off your mortgage early entitles your bank to charge prepayment penalty calculated as 2% of the amount due on the payoff date.

 

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Aysha

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