Property 4 Sale Turkey
Tel 0090 532 207 26 50
Overseas Mortgage

Mortgages are now far more easily available in Turkey than a few years ago. In many ways they are very similar to UK mortgages but they generally have a shorter term, ie 10 years and the LTV ( Loan to value ) is between 50% and 65%. ( This means you will need to find between 35% and 50% of the purchase price )

The usual credit checks are required along with the following documentation.:

1. Signed and Notarised copies of Passports ( We do this for you )

2. Last 3 months bank statements

3. Latest P60 document

4. Last 3 months payslips

5. Any other proof of income, pensions etc

Currently, the rates are between 8% and 9% and tend to be the same wherever you bank.

It is worth noting that because the LTV is much lower that the UK and the payment term is shorter, the payments are generally much more affordable despite the higher interest rates, but it is still much cheaper if you are able to raise the money from a UK source.

There are costs attached to obtaining a mortgage ie arrangement fees, however these are not payable until the mortgage has been provisionally approved and you are ready to proceed.

There is a three month time limit from application to mortgage completion, after this time the process has to start again.

Written quotations are always available from the banks.

E-mail Designed by Birdenbire
Tel 0090 532 207 26 50