100% Mortgages in Turkey
100% mortgages in Turkey are not readily available, current
rates are from 6.4% in Sterling or 4.36% Euros with either
fixed and variable rates. Standard minimum loans are 30,000
euros with the maximum percentage up to 75% in sterling or
70% in euros spread over a 20 year term. Occassionally, some
lenders will increase the percentage to 80%.
However, 100% mortgages can be managed if
a property can be purchased at a substantially discounted
price and the valuation is much higher than the actual buying
price, or if you are able to enter into a special arrangement
with the developer who may have pre-arranged mortgage facilities
with a bank of his choice. This is not yet usual in Turkey
as it has been in some European countries for years, and there
are very few instances of buyers obtaining a full 100% mortgage.
We are currently able to offer just three developements where
this is possible and are negotiating with developers around
the coasts of Turkey to enable us to be able to offer more
properties in other locations. The 100% mortgage can be obtained
because we have negotiated significant discounts for our clients,
meaning that the value is higher than the purchase price.
Property now available on 100% Mortgage:
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Beylikduzu,
Istanbul
1 bedroom apartments located in Beylikdüzü
with sea views available on 100% mortgage deal.
This development is sited on 22,000m2 of land with
sea and lake views in an excellent location 20 minutes
to the centre of Istanbul around 25 minutes to the airport.
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Tuzla,
Bodrum
The Flamingo country club offers a wide selection of
spacious 1, 2 and 3 bed apartments in an excellent position
overlooking the Aegean Sea and Tuzla Lake and the new
world class Tuzla Golf project.
Apartments available on 100% mortgage deal subject to
availability. |
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Belek
Golf Properties
Also available on 100% mortgage are these 3 bed riverside
apartments close to the golf courses of Belek, beautiful
beaches and many historic sites.
The apartments are designed with style and convenience
in mind and include delightful landscaped gardens and
swimming pool. |
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Luxury
Villas Gocek
Luxury villas available on an excellent mortgage deal
with no deposit. Situated on a lovely resort with sea
views and excellent facilities just 12 miles from Dalaman
Airport.
Gocek is home to one of Turkeys most prestigious Yacht
Marinas. |
In Turkey interest rates vary from bank to bank and Turkish
banks are becoming very competitive, but no individual would
be able to approach a lender requesting a 100% mortgage for
their Turkish property. If it is a particular off plan property
that you are interested in, you may find that the developers
already have an agreement with a certain bank in Turkey for
all mortgages related to their own builds but the conditions
may not be satisfactory so it pays to shop around. If the
terms are unacceptable or unaffordable, it may be better to
look for an alternative property.
On any Turkish mortgage
application, you will be expected to prove your ability to
make the monthly payments i.e. 3 months wage slips, 6 months
bank statements or if you are self-employed, copies of your
last 3 years accounts and the last 12 month's business accounts
statements and 6 months personal bank statements. Rental income
from the property will not be accounted for when reviewing
affordability, unless perhaps the developers are offering
a fixed term of guaranteed rental income.
If you are interested in applying for a general, or 100%
mortgages for Turkish property, send your details
on our Mortgage Enquiry
Form and our mortgage advisor will call you.
For all other enquiries regarding Turkish Mortgages, please
do contact us using the form below.
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