How to apply for a mortgage?

OBTAINING A MORTGAGE LOAN IN TURKEY

Do you have a dream of buying a house or apartment by the sea, but do not have enough money? Then you can use the mortgage lending system that has been so popular with buyers lately.

Loans can be obtained from various banks in Turkey - Garanti bank,  Deniz bank, Kuwait Turk bank, Fiba bank, etc. The bank pays  the seller, the seller transfers ownership to the buyer, and the bank imposes a mortgage on the property and the buyer, becoming the full owner of the property, makes monthly payments on the loan to the bank in accordance with the loan agreement.

Real estate is evaluated by an independent evaluating expert, you can count on getting a loan of 50% of the cost.

A loan can be taken in euros, dollars, Turkish lira, most often our company draws up a loan in euros, since the payment in the contract is also in most cases fixed in euros.

Expenses

  • Bank commission - 1.5% of the loan amount
  • Expertise - 150 euros
  • Mortgage deposit  - 100 euros
  • Real estate insurance  -100 euros
  • Life insurance - depending on age and loan 
  • DASK (earthquake insurance) - 20 euros

Normally bank reviews application for a loan within a week

Documents required by the bank to provide loans to foreign citizens:

  • a salary document issued by the employer, an extract from the payroll, clearly containing the date of employment, position and monthly net income
  • a document confirming the authority of the competent person who issued salary document
  • documents confirming property rights (for owners of real estate or landowners - a photocopy of the certificate of state registration of rights, for owners of vehicles - a photocopy of the technical passport of the vehicle)
  • information about savings
  • a document containing a credit history
  • a bank statement received from the bank with which you are cooperating, containing the movement of funds an official document issued by the tax office containing annual income and taxes paid

These are the documents required by the Kuwait Bank. But it is not necessary to present them all - the main thing is a pay slip, documents confirming property rights, a bank statement. There is no specific format required. The bank will look at Turkish translations of these certificates.

Bottom line - if the complex is commissioned or if you choose a secondary housing, then 50% of the cost can be taken out with a bank loan. 

If you choose an option at the construction stage, then there is a payment by installments from the developer, while the complex is being built, when the complex is commissioned for the last payments, you can take a loan from the bank.

Our company fully assists in arranging a mortgage loan

If you do not have the time and desire to be personally present whilst applying for a loan, you can leave a power of attorney.

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

                                                  

 

 

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