Turkish Mortgage Info

We are pleased to announce that Turkish mortgages are now available to foreigners.
Applying for a mortgage in Turkey is very similar to applying for a mortgage in the UK and is subject to a Credit and Military check.
If you intend to buy property using a Turkish mortgage please remember that documentation will be required whilst you are in Turkey.
Armaya International are here with you throughout every step of your buying experience and can help arrange a mortgage for you with a local bank.

Requested documentation for your mortgage application.

Self employed
Official tax statement of the most recent year in the home country (for example P60)
Copy of the Tapu of the property or land that will be bought (only for existing land or
Copies of passports made and signed by the branch or notary
Income statement of employers signed by the employer
Official document/declaration from notary that the person who signed the income statement is allowed to sign
Bank statements declaring the income (not older than 3 months)
Annual report of the holding company for the last two years together with copy of shareholder register
Documents proving monthly financial obligations (rent, house loan installments, alimentation)
Overview of private assets proven by official statements
Overview of private debts proven by official statements
Signed application form

* Official translation of all documents into Turkish is required (most bank branches are happy to assist on this). 
Typical Mortgage Terms for a Turkish Mortgage (these vary from area to area and each bank has their own rates and lending criteria.)

Loan to value
Maximum 50% of the appraisal value (not always equal to the sales price)
Debt to income Maximum net salary to spend to installment for total loan position 50%
Valuation of income Only salary income transferred to a bank account, average profit of the last 2 years, pension income
Maximum amount No maximum
Minimum amount € 25.000 euro
Nationalities All countries that have a reciprocal agreement with Turkey.(Based on these agreements foreigners of the following countries are eligible. UK, Germany, Australia, Austria, Belgium, France, Holland, Ireland, Spain, Italy, Canada, Luxemburg, Norway, Greece as well as some African and South American states.)
Maturity 5 or 10 years
Loan in YTL Yes
Loan in euro Yes
Loan in Dollars Yes
Loan in British pound Yes
Interest types Fixed
Early repayment Possible ( penalty fee may apply)
Property valuation Done by Bank or appointed appraisal by Bank, pre-valuation paid by Bank
Age of application 25 -70 years
Maximum age at end of maturity 70 years
DASK: nature disaster insurance, House insurance; To arrange via Bank,
Life insurance No obligation
Off plan mortgage Yes, with full bank guarantee from constructor for the total loan amount
Monthly installment payments Automatic payment from a Bank account
Validity of the pre offer 4 months
Please click on the link for more mortgage information
Bargain Properties
Bursa - Yalova
Bodrum - Bodrum
Dalaman - Dalaman
Sapanca -
Trabzon -
Trabzon -
Istanbul - Istanbul European Side
Antalya - Alanya
Marmaris -