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

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 Euro as downpayment and the remaining 30.000 Euro 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 opening bank account;

- Passport and Notary Translation (We help you to get notary certified translation)
- Tax ID number (We help you to receive it from Tax Office)
- Certificate for address verification (Valid documents: Residence permit, address written ID card or utility bill. Water, electricity, gas, internet utility bills are most common ones which shows your name and address together.)

If you buy property from Antalya Homes, we help you to open bank account in 30 minutes.

After we open a bank account, we apply for credit with these documents;

- Customer income document (with apostil approval and translated into Turkish or English by a sworn translation office)
- Bank statement (Get statement of final 3 months from the account where your income flows)
- A brief from your bank in your country that you do not have any debt to the bank in your country. (you may demand this when you get your statement at your bank)
- Document for the product to be purchased (Title Deed of the property)

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. 

If you plan to apply for mortgage in Turkey, Antalya Homes professional team helps to get your pre-approval at a Turkish bank to prepare your documents before you travel.