A mortgage loan is the purchase of housing with the condition of its collateral. In Turkey, you can get money for real estate in such banks as DenizBank, Akbank, Küveyt Türk, Garanti Bank, İş bankası. In these offices, the client can conclude a contract on attractively favorable terms.
REGISTRATION OF A MORTGAGE LOAN
A mortgage loan is the purchase of housing with the condition of its collateral.
The features of Turkish mortgage lending include the following points:
- The loan is issued from 1 to 10 years
- Property appraisal is carried out by the bank
- The minimum first installment is at least 40% of the bank’s appraised value, the maximum is no more than 60%
- The monthly payment must not exceed 50% of the client’s income level
- The maximum loan amount is not limited
- Recipient’s age – from 25 to 70 years
- A loan can be obtained in Turkish lira, euros, dollars, and in some banks – in rubles.
- Early repayment of the loan is possible upon payment of a commission of 2%
- The bank’s offer is valid for 4 months, extension up to 18 months is possible upon payment of a commission of 1%
- Interest rate is fixed
- Real estate earthquake insurance (DASK).
- The loan amount approved by the bank does not exceed 50% of the bank’s appraised value
