Turkish Mortgages

[tommyinturkey]

Thankfully we have finally found a company who can supply mortgages in Turkey.This is 99.9 % ready to go by that i mean we haven't got the web pages ready yet, so please contact me for further details.

Turkish Mortgages for purchasing a property in Turkey - rates from approx 6.90% 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 75% 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. 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 € 100,000 OR maximum 20 years for loans over € 100,001 - up to age 75 (minimum age of 24 on application)

Currency: Euros only

Current Interest Rate: from approx 6.90% fixed for 1 year. Fixed Rate loans over 3 and 5 years, also available.

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 6.90% = approx €625.00 capital and interest per month = a total approx amount payable over the term of €152,680 including capital, interest, arrangement and survey fees

This is to provide basic information about Turkish Mortgages.
The information in this post is of a general nature and does not constitute legal, advice,

[brian]

Interesting - what are the interest rates like in Turkey at the moment?

[tommyinturkey]

Brian,
Hope this will help you

HSBC - Turkey