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How to get a Mortgage in Turkey?


 

 

How to get a Mortgage in Turkey?

Esila would be glad to offer competitive mortgage rates from experienced Turkish Banks in Side, Antalya. You will also benefit from our knowledge about legal obligations, restrictions and procedures which are applicable for foreign citizens' property purchase and banking transactions..

Foreign buyers are able to get mortgage for off plan properties, which is a unique incentive in Turkey for home buyers. Its a very usual practice especially in coastal regions of Turkey which are preferred by the foreigners for a new apartment. Esila has special agreements with the banks which will provide the lowest rates in Turkey. These special rates are valid only for Esila buyers for off plan projects as well. The system can be summarized as follows;
 Required documentations are given to the nearest branch of the bank .
 An appraiser will be directed to your property for appraisal report.
The branch will inform you in maximum 5 business days with regards to your mortgage application
You will be handed out the pre term sheet that you can use as the banks written promise to you
 The bank will present a pre term sheet to you which notifies your mortgage conditions.
 After you sign the pre term sheet you will need to pay the commitment fee
 Pre term agreement will be valid of four months. Meanwhile, we will be expecting you to a  rrange:


* DASK: (nature disaster insurance)
* House insurance; skan Ruhsati (house permission)
* Approval of the ministry of Defense (Savunma Bakanlii)
* Tax number and opening a demand deposit account

 After collection of all the documents mentioned above, the bank will give the final approval.
 An appointment to pay out the loan and put the mortgage on the title deed at the Tapu office will be arranged.

General features of a mortgage loan

Loan to value :

Maximum 50% of the appraisal value (not always equal to the sales price)

Debt to income:

Maximum net salary to spend to installment for total loan position 50%

Valuation of income:

Only salary income transferred to a bank account, average profit of the last 2 years, pension income

Maximum amount :

No maximum

Minimum amount :

€25.000

Nationalities :

All countries that have a reciprocal agreement with Turkey.

Maturity:

10 years

Interest types:

fixed

Early repayment:

possible with 2% penalty fee

Property valuation:

the banks arrange valuation

Age of application:

25 – 70 years

Life insurance:

no obligation

Off plan mortgage:

possible with a guarantee from construction company

Requested documentation for mortgage application
Official translation of all documents (other than Turkish or English) listed below into Turkish is required . A tax number is also required. The applicant shall apply to the local tax office in Turkey and get a tax number. Esila will assist all buyers to get tax number from the related local state Office.
Official tax statement of the most recent year in the home country (for example P60)
The official document that shows the applicant's credit history/records in the country where the applicant currently resides.
Copy of the Tapu of the object that will be bought ("Kat mulkiyet tapusu" or "Kat irtifak  tapusu + yapi kullanim izin belgesi")
Copies of passports made and signed by the branch or notary
Income statement of employers signed by the employer
Official document/declaration from a public notary/cadastre that the person who signed the income statement is allowed to sign
Bank statements declaring the income (not older than 3 months)
 Documents proving monthly financial obligations (rent, house loan installments, alimentation)
Overview of private assets proven by official statements
Overview of private debts proven by official statements  Signed application form of the bank


DENZ BANK DEXIA TURKEY SPECIAL MORTGAGE RATES

Property Price

Down Payment

Loan

Months

Rate

Monthly Payment

Total Payment

149.000 €

49.000 €

100.000 €

60

0,33%

1.883

112.980

 

 

 

120

0,33%

1.011

121.320

 

 

 

180

0,47%

825

148.500

 

 

 

 

 

 

 

Property Price

Down Payment

Loan

Months

Rate

Monthly Payment

Total Payment

149.000 €

69.000 €

80.000 €

60

0,33%

1.506

90.384

 

 

 

120

0,33%

809

97.056

 

 

 

180

0,47%

660

118.800

 

 

 

 

 

 

 

Property Price

Down Payment

Loan

Months

Rate

Monthly Payment

Total Payment

149.000 €

99.000 €

50.000 €

60

0,33%

942

56.490

 

 

 

120

0,33%

506

60.660

 

 

 

180

0,47%

413

74.250

 

 

 

 

 

 

 

Property Price

Down Payment

Loan

Months

Rate

Monthly Payment

Total Payment

149.000 €

119.000 €

30.000 €

60

0,33%

565

33.894

 

 

 

120

0,33%

303

36.396

 

 

 

180

0,47%

248

44.550

 

 

 

 

 

 

 

Property Price

Down Payment

Loan

Months

Rate

Monthly Payment

Total Payment

99.000 €

29.000 €

70.000 €

60

0,33%

1.318

79.086

 

 

 

120

0,33%

708

84.924

 

 

 

180

0,47%

578

103.950

 

 

 

 

 

 

 

Property Price

Down Payment

Loan

Months

Rate

Monthly Payment

Total Payment

99.000 €

39.000 €

60.000 €

60

0,33%

1.130

67.788

 

 

 

120

0,33%

607

72.792

 

 

 

180

0,47%

495

89.100

 

 

 

 

 

 

 

Property Price

Down Payment

Loan

Months

Rate

Monthly Payment

Total Payment

99.000 €

59.000 €

40.000 €

60

0,33%

753

45.192

 

 

 

120

0,33%

404

48.528

 

 

 

180

0,47%

330

59.400

 

 

 

 

 

 

 

Property Price

Down Payment

Loan

Months

Rate

Monthly Payment

Total Payment

99.000 €

69.000 €

30.000 €

60

0,33%

565

33.894

 

 

 

120

0,33%

303

36.396

 

 

 

180

0,47%

248

44.550


 

Esila Tic. İnş. Taah. Tur. Tic. Ltd. Şti.
E-mail : info@homeofside.com / Turkey Office Phone : 0090 242 753 54 23 / Gsm : 0090 532 408 2925