Mortgages and Property

Turkey

Turkish Mortgages for purchasing a property in Turkey - rates from approx 6.10% in Euros

Includes Turkish residential property. Please note, that if the property is being built, funds are not available until completion and the property has been legally registered in your name.

If you are considering purchasing a property in Turkey, Turkish Mortgages are available for UK, Belgium, Dutch & German Nationals - who must be resident in their home country at the time of application for credit checking purposes - for either House Purchase or re-financing for Home Improvements. Mortgages for other purposes may also be considered - contact us for further information.

Type of Turkish Mortgage: Repayment basis only

Minimum: €40,000; Maximum: €200,000 (larger amounts may be considered on a case-by case basis), but must not exceed 80% of the valuation or purchase price (whichever is the lower) in the Turkish Riviera* & Istanbul only. Mortgages in other parts of Turkey are dealt with on a case-by-case basis.

* Turkish Riviera includes for example: Akbuk, Alanya, Antalya, Ayvalik, Balikesir, Belek, Bodrum, Cannakkale, Datca, Didim, Fethiye, Izmir, Kalkan, Kusadasi, Mahmutiar, Mersin, Mugia & Turgutreis

PLEASE NOTE, THAT THE ABOVE LIST OF TOWNS/CITIES, ARE ONLY EXAMPLES OF THOSE THAT ARE SITUATED IN THE TURKISH RIVIERA (WHERE THE 80% MAXIMUM APPLIES), OTHER AREAS OF TURKEY OUTSIDE OF THE RIVIERA ARE CONSIDERED, BUT AT A LOWER LOAN TO VALUE

Proof of Income: required in all cases (can be made up of Earned Income, Pension, Investment or Rental Income. Please note however, it is not always the case that the Lender will take all or part of these Incomes into account when determining the maximum loan available). Non-Status loans are currently not available.

Term: Maximum 15 years for loans up to € 150,000 OR maximum 20 years for loans over € 150,000 - up to age 75 (minimum age of 24 on application)

Currency: Euros & Sterling only

Current Interest Rate: from approx 6.10% fixed for 1 year in Euros or approx 7.10% Fixed for 1 year in Sterling. Fixed Rate loans over 3 and 5 years, also available.

Please note, that if the property is Rented, the Interest Rate is increased by 0.60% for all schemes throughout the mortgage term

Example Turkish Mortgage in Euros: Repayment Mortgage of approx €80,000 over a period of 20 years at an initial Fixed interest rate of approx 6.10% = approx €584.00 capital and interest per month = a total approx amount payable over the term of €143,040 including capital, interest, arrangement and survey fees

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