Mortgage information for Turkish Property

The Turkish mortgage rate has been reduced from 8.4% to a very competetive 7.8% PA, fixed for up to 20 years. Considering the rate for Euro mortgages is hanging around 6.96%, with its 7.8% the Turkish mortgage rate is proving to be very attractive.

BASIC LENDING TERMS FOR ALL PRODUCTS

Loan to value	Up to 65% (of valuation)
Interest rate	7.8% PA
Loan term	5 to 20 years
Minimum loan	€30,000
Maximum loan	No maximum
Interest type	Fixed
Age of applicant	25 to 70
Maximum age at loan maturity	70
Early repayment penalty	2%
Off-plan mortgage	Available (Requires full bank guarantee from Developer for total loan amount)
Requirements	DASK (natural disaster insurance, arranged by lender)
	Property insurance (arranged by lender)
	Valuation (€300 approx. arranged by lender)
Costs	1.5% lender commitment fee

EVEN MORE...

Here is the complete list of the countries whose citizens are now eligible for Turkish mortgages:

01. ANDORRA
02. ARGENTINA
03. AUSTRALIA
04. AUSTRIA
05. BAHAMAS
06. BAHRAIN
07. BANGLADESH
08. BARBADOS
08. BELGIUM
09. BELIZE
10. BENIN
11. BOLIVIA
12. BOSNIA-HERZEGOVINA
13. BOSTWANA
14. BRAZIL
15. CAMEROON
16. CANADA
17. CAPE-VERDE
18. CENTRAL AFRICAN REP.
19. CHILE
20. COLOMBIA
21. COSTA RICA
22. COTE D'IVOIRE
23. CROATIA
24. DENMARK
25. ECUADOR
26. EL SALVADOR
27. ENGLAND
28. ESTONIA
29. FINLAND

30. FRANCE
31. GABON
32. GERMANY
33. GHANA
34. GUINEA
35. GRENADA
36. GUATEMALA
37. GUYANA
38. HAITI
39. HONDURAS
40. HUNGARY
41. IRELAND
42. ISRAEL
43. ITALY
44. JAMAICA
45. JAPAN
46. KOREA, SOUTH
47. LATVIA
48. LIECHTENSTEIN
49. LITHUANIA
50. LUXEMBOURG
51. MALAWI
52. MALAYSIA
53. MALI
54. MALTA
55. MAURITANIA
56. MAURITIUS
57. MEXICO
58. MONACO
59. MOZAMBIQUE

60. NETHERLANDS
61. NEW ZEALAND
62. NICARAGUA
63. NIGERIA
63. NIGERIA
64. NORWAY
65. PANAMA
66. PARAGUAY
67. PERU
68. FILIPPINES
69. POLAND
70. PORTUGAL
71. SAN MARINO
72. SENEGAL
73. SINGAPORE
74. SOMALIA
75. SOUTH AFRICAN REP.
76. SRI LANKA
77. SPAIN
78. SWAZILAND
79. SWEDEN
81. SWITZERLAND
82. TANZANIA
83. THE REP. OF DOMINIC
84. TR. REP. OF N. CYPRUS
85. USA
86. URUGUAY
87. VENEZUELA
88. YUGOSLAVIA

(SERBIA-MONTENEGRO

It’s HOT!!!

ADVANTAGES OF ALL MORTGAGE PRODUCTS

Self employed & retirees accepted.
No geographical restrictions within mainland Turkey.
Full rental income is taken into account when banks assesses affordability for client.
Fees can be added to borrowings, without affecting the amount that can be borrowed by client.
75% completion is regarded as a completed property.
No requirement to become a Turkish resident.
Loan offer lasts for 4 months. Can be extended to 18months (an extra 1% commission will be required to process this request).

MORTGAGE PRODUCT TYPES

a) Completed Property Mortgages

For properties that are completed, or are in the process of being completed (75%
completed and up), the lending terms on page 1 of this document are relevant.

b) OFF - PLAN Mortgages

To offer ‘off- plan’ mortgage, both the Developer and their developments that
require ‘off plan’ mortgages will need to be initially approved by the Lender. (Note: This process could take up to three to four weeks.)

The lender may already be approved, if not yet; we will notify you directly. The Developer or their Marketing representative (Realtor) will then have to contact us at ad@globalmortgagesdirect.com to arrange Lender approval.

The Lending terms are as on the chart above.

c) Re - Mortgage / Equity Release Mortgages

Two options are available:

Option 1: Allows a client to release equity on existing Turkish property to purchase other Turkish property. This loan product has a fast turnaround, approximately 2 to 3 weeks (assuming all documentation is supplied).
The Lending terms for this option are as on the chart above.

Option 2: Allows a client to withdraw up to approximately €40,000 (75,000 YTL) for any purpose. Loan term up to 5 years at the interest rate of chosen currency eg : 7.8% (Euro).

Please note: Supporting Documentation will be required for all Mortgage Applications.

YOUR NEXT STEP

Please complete a Questionnaire online at www.globalmortgagesdirect.com Within 24 to 48 hours we will send you your own personalized Turkish mortgage quotation.

Global Mortgages Direct Ltd
Business Administration Centre
12 Patrick’s Court
Patrick Street
Kilkenny

Ireland Co. Reg. No.: 435842
Directors: Carole Siddons-Carew, Mark Gannon

Telephone: +353 (0) 56 770 68 07
Fax: +353 (0) 56 778 98 21
Email: info@globalmortgagesdirect.com

Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Changes in the exchange rate may increase the euro equivalent of your debt. This is not a regulated mortgage contract under financial services authority rules so you will not be protected by them in respect of it.