Turkish Mortgages | Mortgages in Turkey
Hot Property Turkey work together with CeMAP qualified advisors based in the UK who are able to obtain Turkish Mortgages for all types of purchase, including off plan property. As they are both English and Turkish speaking, there is never a problem with language and they will deal with the banks in Turkey on your behalf. Not being tied to any one bank, we have excellent working relationships with many of Turkey’s leading banks that are currently offering mortgages in Turkey.
If you send us your requirements on the short form below, on receipt of your details we will ask our advisors to make enquiries to find the best possible Turkish mortgage deal to suit your circumstances. Our advisors will call or visit you to talk you through the different options available, and process the application from start to finish, liaising both with the property vendor and your solicitor until completion takes place.
Even if you may not require a mortgage in Turkey at this time, we would still advise speaking to our advisor before committing to any property purchase. With our experience in the market, we can help you find a good deal whether you are looking for a holiday home, permanent home or investment property.
Two developments on offer with 100% Mortgages >>
‘Mortgage in Principle’
If you are unsure as to whether you will be eligible for a Turkish mortgage, we are able to offer a free ‘mortgage in principle’ service, which will enable you to base your search around the figures given when you do travel to Turkey looking for your dream home, giving you the confidence to make offers knowing you have the finance in place. We will ask your case to be considered by the various lenders on the basis of the information you provide. No credit checks or details disclosed to any third party at this stage so it is well worth asking the questions, even if you to not intend to purchase in the near future. We can also cater for those with CCJ’s, rent arrears, discharged bankrupts or poor credit ratings.
Raising mortgages in Turkey can be time consuming as they are often slow to process so using a good Turkish speaking advisor and starting the process as early as possible is advisable.
How to Apply for Turkish Mortgages:
In order to proceed with an application, you will need to provide:
Proof of income
Turkish tax number (can be arranged on your behalf)
Proof of ID
Existing mortgage statements (if applicable)
Business accounts and last 6 months business bank statements if self employed.
Banks in Turkey use an affordability calculation and you can usually borrow up to 50% of your net monthly income, so before you begin your search for a property in Turkey, it is wise to calculate your budget. Mortgage lenders will offer loans up to 85% of the purchase price or valuation, which is usually higher. Self cert mortgages are not yet available in Turkey.
Current rates as at
Euro rate 5.25% - 6.85%
Sterling rate 5.25% - 6.85%
Buy to let rate from 5.40%
Remortgages 5.23% - 5.85% (fixed and variable)
Specialists in investment Finance.
Buying off plan offers the best return for investors and we able to offer off plan mortgages in Turkey, securing mortgage offers up to 18 months in advance of the completion date. By negotiating with the developer, we can arrange an initial deposit of no more than 35% (in some cases it can be far less) and secure the remaining payment to be released on completion.
Contact us today to speak to an advisor in the UK to: apply for a mortgage, for financial advice, or to obtain a ‘Mortgage in Principle’ offer.
We guarantee we will find the best deals in Turkish mortgages available