Mortgage in Turkey
Financing your investment property in Turkey is an important decision and could take the form of your own cash resources or, as most serious investors prefer, a mortgage. If you should consider investing in Turkish property, various financial choices are now available. Since January 2008 foreign investors have the possibility to apply for a mortgage through a Turkish bank, together with all its modern banking products and a wide range of possibilities for non-residents, instead of taking loans back in their own home country, or even buying with cash.
Turkeys position on the property investment map will be even more stable, once the Turkish mortgage system is implemented totally. However, this will most probably boost the flourishing tourist economy and raise the property prices . This is one of the most important reasons that clients are deciding to take advantage of these early opportunities which are available now in Turkey. Various choices of mortgages for Turkish property are available to buyers of residential property as well as those interested in investing for the buy-to-let property.
The Turkish Property market is becoming more and more attractive amongst foreign investors, thanks to the existence of the Turkish banks and the various Turkish mortgage options they provide. For foreign property investors who are willing to borrow in USD (US Dollars), EU (Euros) or GBP (British Pounds), Please ask for the rates from our financial consultants by contacting us. They will arrange best possible up-to-date mortgage rates for you from Turkish Banks.
Non-Resident Turkish Mortgages:
Turkey now provides mortgages to foreign country residents as well as Turks residing outside of Turkey. Foreign citizens or non-residents considering a second-home in Turkey or just investing in Turkey can benefit from the wide product range , as well as competitive interest rates in Turkish Lira, Euro, US Dollar, British Pound and Swiss Frank. Even though mortgages are relatively new in Turkey, customers may benefit from the largest range of products and services, from fixed rate to variable rate mortgages, based on different needs, preferences and risk.
Required Documents for Turkish Mortgage Application:
- Tax ID Number provided by Turkey (aka TCKN)
- Appraisal report of the property
- Non- Resident application form (provided by the branch)
- Sample copy of the passport or the original copy of official residence letter
- Credit Bureau record from applicant’s home country
- Utility, cable or telecommunication bill noting the address of the customer
- Previous three month’s bank account / credit card / overdraft statements
Mortgages for holiday homes in Turkey are widely available and the terms are similar to those in Europe. With some help from our experts in the field, you may apply for a mortgage from a Turkish bank. For more information our staff will be pleased to assist you.