Do you dream of a house or apartment by the sea but don't have enough money? Then you can use the mortgage lending system that has been so popular among buyers lately.
The loan can be issued at various banks in Turkey: Garanti Bank Garanti bank, Deniz Bank Deniz bank, Kuwait Turk Bank — Kuveyit turk bank, Fiba Bank Fiba bank, etc.
Mortgage lending involves purchasing real estate on condition of collateral to the bank of this property, the bank pays the missing amount to 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 loan payments to the bank in accordance with the loan agreement.
Citizens of Russia, Ukraine, Kazakhstan and Belarus have the right to obtain a loan in Turkey to buy real estate in Turkey.
A loan can be obtained for 50% of the estimated value of finished housing. An independent appraisal organization evaluates real estate; most often, the estimated and market values differ slightly, so you can expect to get a loan of 50% of the value of an apartment or house.
You can borrow a loan in euros, dollars, Turkish lira, most often our company issues a loan in euros, because the contract value is also in most cases fixed in euros.
Loan costs
- BANK COMMISSION = 1.5% OF THE LOAN VALUE
- EXPERTISE = 150 euros
- MORTGAGE DEPOSIT = 100 euros
- REAL ESTATE INSURANCE = DEPENDENCY ON THE SIZE OF THE APARTMENT = 100 euros
- LIFE INSURANCE = DEPENDING ON AGE AND LOAN AMOUNT CLAIMED
- DASK (EARTHQUAKE INSURANCE) - €20
Within a week, the bank reviews the loan application.
Documents required by the bank to provide loans to foreign citizens:
- a salary document issued by the employer, an extract from the payroll that clearly states the date of employment, the position and the monthly net income.
- a document confirming the authority of the competent person who issued the wage document.
- documents confirming property rights (for real estate owners or landowners, a photocopy of the certificate of state registration of rights, for vehicle owners, a photocopy of the vehicle's technical passport).
- information on stable costs.
- a document containing a credit history.
- a bank statement received from the bank with which we are cooperating, containing the movement of funds.
- an official document issued by the Tax Authority containing annual income and taxes paid (VAT-2).
These are documents required by Kuwait Bank. But you don't have to present them all, the main thing is a salary certificate, documents confirming property rights, and a bank statement. There is no specific format (mandatory), the bank will watch Turkish transfers of these certificates.
The result is that if the complex is completed or if you choose secondary housing, you can borrow 50% of the cost from a bank, the 50% you should have.
If you choose an option during the construction phase, then there is installment payment, while the complex is under construction, when the complex is completed, you can take out a loan from a bank for the last payments.
The down payment depends on the developer and the project, from 10% to 40% may be a down payment.
Our company fully helps to complete a mortgage deal.
If you do not have the time and desire to be present in person when applying for a loan, you can leave a power of attorney to apply for a loan to buy a specific apartment or house.