• You can apply for mortgage at the nearest bank with the required documents.
  • An appraisal will be made and report will be prepared
  • In accordance with the new law, the bank will deliver the Pre-Contract Information Form to you for use as written promise
  • After collection of all the documents mentioned, the bank will give the final approval
  • With the final approval, Tapu (Land) Office will be arranged to put the mortgage on a title deed.
  • Loan amount will be paid to the seller of the real estate and loan process is completed.

 

    Required Documents

Employed

Self Employed

Retired

    Signed application form

X

X

X

    Copies of passports signed by the branch or notary

X

X

X

    Overview of private assets proven by official statements

X

X

X

    Overview of private debts proven by official statements

X

X

X

    Documents proving monthly financial obligations (rent,       house loan installments, alimentation)

X

X

X

    Income statement for employees signed by the employer

X

 

X

    Bank statements declaring the income (not older than 3 months)

X

 

X

    An appraisal report of the property which will be prepared by Bank during the underwriting process

X

X

X

    Tax Identity Number (The applicant shall apply to the local tax office in Turkey and get a tax number)

X

X

X

    Certificate from the credit record office of customer's home country

X

X

X

    Copy of the Tapu (deed) of the object that will be bought

X

X

X

    Annual report of the holding company for the last two years together with a copy from the shareholder register

 

X

 

    Military Clearance (not required for application, but critical for title-deed assigment)

X

X

X

  • In case the applicant has the residence permits of several countries, the official credit record documents to be arranged by each country's relevant authorities must be submitted to the bank. The documents must be notarized and apostilled.

Joint Applications:

1 - If more than one person is represented on the title deed (tapu), for each of the person a separate application form must be filled

2 – If only one name is / will be written on the title deed (tapu) only one application form is required. In that case a partner can become guarantor of the loan in order to meet with the debt to income requirements.

Issue

Feature

    Loan to value

Maximum 60% 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

    Maturity (USD,GBP,EUR)

15 years

    Maturity (RUB)

10 years

    Loan in TL

Yes

    Loan in euro

Yes

    Loan in Dollars

Yes

    Loan in British pound

Yes

    Loan in Ruble

Yes

    Interest types

Fixed

    Early repayment

Possible (If remaining maturity>36, %2 penalty fee/ If remaining maturity<36, %1 penalty fee)

    Property valuation

Done by Bank or appointed appraisal by Bank

    Age of application

25 -70 years

    Maximum age at end of maturity

70 years

    DASK: nature disaster insurance, House insurance;

To be arranged 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

3 months

MATURITY RATES*

These rates vary from bank to bank


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