2 Different Types of Mortgage in Turkey

There are 2 different types of mortgage in Turkey for having a real estate. Antalya Homes Real Estate will help you about how you can use these credits.

1- Credit from the Construction Company

Check apartments for sale with payment plan by installments from the Construction Company here

There is a great opportunity to get credit directly from the construction company in Antalya, Turkey. The process is pretty easy. All you need is a sales contract with the construction company where all payment details are written. There are no additional documents, paperwork, and costs required.

The Payment Plan is as Follows

- Down-payment - 50 % of the real estate price
- The remaining amount 50 % can be paid with installments up to 5 years (60 months)

1-year credit without any interest. After 1 year till 5 years with interest which is 20 % lower than bank rates. Whenever you pay 50 % of the cost of your real estate the TAPU (title deed) delivery is handled on your name with hypothec. Hypothec amount is the remaining money which you owe to the construction company. That way the sales process is handled fairly and without risk for both sides, the buyer and the seller.

The payment of monthly installments can be done automatically from the buyer to the seller account.

Type of currencies for payment: Turkish Lira (TL), Euros (€), Dollars ($).

The maturity of payment from 1 year till 5 years.

Minimum amount of credit - 20.000 Euros

Applies to people between 25 and 70 years old.

Example Case

You buy an apartment for 50.000 Euro. You decide to pay 20.000 EUR as downpayment and the remaining 30.000 EUR with installments.

If you pay the remaining 30.000 Euro within 1 year (12 months) installment, you will be asked to pay 2500 Euro each month without any interest.

If you pay the remaining 30.000 Euro in 5 years with a 60-month installment, you will be asked to pay 595 Euro each month with a total payment of 35.700 Euro at the end.

2- Credit from the Bank

You found your dream home and need a bank loan to have it. You can be easily applied to bank loans with the reliable and professional team of Antalya Homes, and you can have your dream home. You can buy the house you wish to get with confidence with Antalya Homes staff that are on your side at each stage. Antalya Homes experienced staff is always with you until you moved into your apartment which you like!

Buyer must prepare all documents required for the mortgage in Turkey. Antalya Homes will help the buyer to open an account and to translate all above-prepared documents to the Turkish language by notary office and to register for the bank.

Required documents for application of credit;

- Passport (notary certified translation)
- Tax ID number (It is procured from Tax Office)
- Certificate for address verification (Residence permit)
- Customer income document (with apostil approval and translated into Turkish or English by a sworn translation office)
- Document for the product to be purchased (Tapu)

A credit application is made to the bank after all the documents prepared. "Preliminary approval" comes from the bank maximum 3-4 days later. After coming "preliminary approval," the bank sends an expert to home for property valuation. Following the expert assessment, the bank loan is approved. After the bank loan is approved, buyers and sellers documents are complete for title deed application. Finally, title deed (Tapu) application is made.