In Turkey, foreign citizens have the right to purchase real estate on credit. At the moment, Turkish banks issue up to 60% of the value of real estate (according to a bank expert) on loan at 7-8% per year. Credits to foreign citizens are issued in dollars, euros, liras and pounds sterling, while the loaner chooses what currency to take a loan. The procedure for issuing a mortgage loan is simpler, more profitable and usually takes only few work days.
You can get a mortgage loan for completed and under construction property. Our company is ready to provide assistance in collecting and preparing the necessary documents for the loan. All documents must be translated into Turkish, our agency cooperates with professional translators who will make quick and high-quality translation of your documents.
List of documents required for foreign citizens to apply for a mortgage loan from a Turkish bank:
1. Copy Tapu of the property to be purchased
2. Copy of passport
3. The official declaration of income, signed by the employer
4. An official document showing the applicants credit history from his/her home country
5. Document with applicants occupation and for how many years he/she works in the current job, signed by the employer
Reviewing and approving of the loan after delivering of the documents to the bank takes 4-5 days. In case of completing the loan in total, a fine of 2% is demanded by the bank. The amount of monthly payments should not exceed 50% of the applicants salary.
Confidence Real Estate will help you to solve any issues related to buying real estate on credit!