Our
partners work with all Turkish banks and
lenders that currently provide cross border
mortgages for foreigners in Turkey. A
“cross-border” mortgage is one where the
applicant’s income is outside of Turkey,
but the property is inside Turkey. This is a
different type of mortgage product than is
normally offered by Turkish banks to Turkish
people who have their income coming from
inside Turkey, and the terms and features of
the mortgage are different.
Our partners make sure that every
mortgage possibility is found for the
client, which means that the client has the
highest chance of receiving the best
mortgage product for them. The company we
suggest have been working with Turkish banks
arranging cross border finance since 1982
and is the only company providing this
service- other mortgage brokers do not know
Turkey as well and only work with tied to
one or two Turkish banks .
Here
are a few simple answers, it works like this
for non-Turkish nationals (most European and
several other nationals can get mortgages)
1- If you already own a property in Turkey
it is reasonably fast to get a mortgage to
raise cash.
2- If you want to buy a property it is also
reasonably fast to get a mortgage offer so
you know how much you can buy for, and the
offer can be held open for you.
3- if you are already signed contracts and
want a mortgage ready for when you have to
make the fınal payment then we can work
on this for you but it is not always simple.
4- ıf you want to get a mortgage to pay
for your property off plan before it is
completed then we can help with this but
your developer or sales agent has to be
involved.
You can usually borrow up to 70% of the
property value but sometimes more up to 80%
(sometimes more but rarely unless it is a
commercial asset) If you borrow less than
70% it is easier because you don't have to
do as much to prove your income.
You can borrow in YTL, Euro, Sterling, and
$s.
You can borrow up to 20 years.
You have to be minimum 18 yrs old.
You will usually need to have life
insurance.
The interest rate depends on the
currency-USUALLY ABOUT 2-2 1/2 % OVER THE
BASE RATE.
If the property is in a Turkish Limited
Company you can usually get a loan but for
10-12 years max.
(we do not provide financial advice- )
WE CAN SOMET