Mortgages in Turkey: what are the offers, how and where to apply

Mortgages in Turkey for foreigners

Getting a mortgage in Turkey is simple. It is one of the reasons why the real estate market quickly grows. If you don't have enough capital to buy a house, there is always another option.

To apply for a mortgage, you need to provide a set of documents. The seller does not risk anything by giving away the keys to the apartment. You can arrange an installment plan for a period of six months to 3 years. You can move in at any time, and you can get a title deed (TAPU) immediately after the first you pay the first installment.

A mortgage is sometimes a more acceptable option for several reasons. After applying for a mortgage, the property is immediately registered in your ownership, a TAPU is issued, and a residence permit can be obtained.

You will be able to dispose of the property at your discretion. Remember that the property is promised to the bank. Mortgages duration can be 5 to 10 years, which means lower payments, albeit with an overpayment to the bank in the form of interest.

Where and how to get a mortgage in Turkey as a foreigner?

•  2-NDFL certificate or business ownership documents.
•  Bank statement for the last three months.
•  A copy of the TAPU of the selected object.
•  An extract from the credit bureau.
•  Taxpayer's id issued by the Turkish tax office.
•  Property deeds
•  For entrepreneurs: accounting statistics for the last two years and a copy of the partner certificate.

• down payment of 50% of the cost;
• fund release within 4–5 days;
• four months are given to complete the transaction;
• instalment period can be extended up to 18 months;
• fixed rate of 7.2% for the entire period;
• the minimum loan amount is $9,500.