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August 1, 2007

IsbBank London makes it easier to buy a home in Turkey

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by Gill Montia

IsbBank London makes it easier to buy a home in Turkey

According to New Turkish Properties, house prices in Turkey have risen by 40% in the last 2 years and an increase in the number of flights and improvements to roads and motorways is making Turkey attractive to investors and it is anticipated that an increase in property prices will continue over the next 3 years. A reformist government is also making Turkey attractive.

In addition, IsBank London, a full branch of Turkey’s leading banking institution, Türkiye Iþ Bankasý, is launching an innovative new mortgage product to UK nationals at competitive standard variable rates for overseas repayment mortgages in British pounds sterling.

Isbank London has been offering financial services in the UK since the early 1980’s. The IsBank Overseas Mortgage is the first overseas mortgage available to foreign nationals in Turkey.

This innovative mortgage product from Isbank London is available for UK residents purchasing finished properties in Turkey. The Isbank London mortgage product will allow them to borrow up to a maximum of 75% of the property valuation with competitive repayment terms from Isbank over a period from one to 15 years.

A spokesperson for IsBank London commented that the Turkish property market is not showing signs of cooling off. Turkey offers excellent value for money whether buying a second home or an investment opportunity.

Although the Financial Services Authority (FSA) regulates Isbank London, this product is not an FSA regulated mortgage. It is the policy of Isbank London to observe the provisions of The Banking Code.


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