Real estate finance in Turkey

WHY BORROW FOR A HOME IN TURKEY?

• Buying property in Turkey is cheap. From € 50,000 - features are already buying a house. A personal loan can this be enough.
• Not only the costs of owning a property in Turkey are lower, also living in Turkey is cheaper. You will be amazed about the low price of your groceries in your cart at the supermarket. And Turkey can be in a restaurant still delicious to eat for € 10, - per person.
• Letting your Turkish home provides extra income. That you pay the cost of taking out a mortgage. This can be especially beneficial if you close an additional mortgage on your home in the Netherlands or Belgium. Investing while you enjoy your holiday ... it can be even better? And meanwhile is increasingly money your house in Turkey.
• buy a property in Turkey is a beautiful short financial investment announcement while regular holiday celebrates one of the most beautiful countries in Europe.

FINANCING YOUR HOME MORTGAGES LOANS AND MORTGAGES IN TURKEY BY TURKISH BANKS

You can finance your property by applying for a mortgage from a Turkish bank but sun mortgage is, however, expensive in a Turkish bank than in other European countries. You can also optionally apply for a mortgage from a Turkish bank that has branches in Europe. Usually the staff speak multiple languages such banks and they are also familiar with the Turkish property transactions. The real estate mortgages are included in the Turkish land registry office. No bank will give a mortgage without that they have a document property value and conditions in the land registry. This process promotes more security at the Turkish banks as opposed to other countries.

APPLY FOR A MORTGAGE

Gather relevant information about the property. You will need to fill out an application so that the value of your home can estimate. After estimate you will receive a document for you to sign. Then have to pay your processing fee. Check that you have all the documents required to submit your financial file. Copies of the taxes, bank statements, certificate from the national bank and energy bills include mandatory.

THE PROVISION OF A MORTGAGE TO FOREIGNERS

Foreigners often get permission for a mortgage in Turkish banks. They ask other than loans to Turkish citizens and these loans have different terms. Many mortgages are approved and they cover 65% of the cost of ownership.

HOW MUCH CAN I BORROW?

Minimum: € 30.000 Maximum: Up to 85% of the purchase price or 100% if the property is purchased with a significant discount

WHAT TYPE OF MORTGAGE IS AVAILABLE AND WHAT IS THE DEADLINE?

The deadline for repayment of the loan is 20 years - until the age of 75 years. The maximum term is 20 years.

WHAT PROOF OF INCOME IS REQUIRED?

In all cases, a task requires, for example, the income earned from the investment or rental income. Please note to the lender will not always take account of all income or a portion thereof.

PERSONAL LOAN

At your own bank in the Netherlands or Belgium, you can apply for a personal loan. But even if you continue looking for in Belgium or the Netherlands, there appear to be many providers that can provide a personal loan. The loan that you take out you can spend most free and therefore allows buy a property in Turkey. The maximum personal loan from most banks is € 50,000, - and give a few instances to € 75,000, -. Often it is therefore a provision to increase your budget instead of the full financing of a property in Turkey.

SECOND MORTGAGE BELGIUM

You own a property in Belgium and a (large) part of the mortgage is repaid on your property. You have the opportunity to broaden your mortgage on your home. This creates budget to buy a house in Turkey. The additional mortgage in Belgium or the Netherlands, the interest rates are low and pay relatively little. That makes this opportunity even attractive to invest in property in Turkey. The amounts you pay in interest rates are often lower than the Sales proceeds you get from the lease of purchasing property in Turkey.