Stay Property offers its clients a service for selecting properties and assistance in obtaining mortgages for foreigners.
Basic information
- Loan currency – dollar or euro
- The maximum loan term is 10 years.
- Monthly rate – 1.15-1.25% depending on the loan term
Credit terms*
- The loan can be issued for a fully completed or 90% completed property.
- Loan amount – up to 50% of the estimated value of the property (for individuals who do not own real estate in the Republic of Turkey).
- If the borrower or his family members (spouse and children under 18) own real estate in the Republic of Turkey, the loan amount will be lower.
- The borrower’s age at the time of full repayment of the loan must not exceed 71 years.
Required documents
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Foreign passport
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Salary certificate for the last 3 months with a notarized translation into Turkish
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A document confirming the address of registration in the country of residence (receipt for utility bills, copy of the registration page of the internal passport, etc.), translated into Turkish
- Taxpayer Identification Number (TIN) in Turkey
- A copy of the certificate of title to the property being acquired
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Turkish phone number (for SMS notifications from the bank)
If the borrower is married, in addition to the above documents, it is also necessary to provide:
- Foreign passport of spouse and children under 18 years of age
- Marriage certificate translated into Turkish
- Certificate of family composition translated into Turkish
- Certificate of salary of spouse for the last 3 months with notarized translation into Turkish
- Written consent of the spouse, personal presence is required
The list of mandatory documents also includes annual insurance policies (home insurance, accident insurance, earthquake insurance). The approximate cost of renewing insurance policies is 750 Euro per year.
When applying for a loan, a commission fee is also paid for processing the loan, imposing an encumbrance and an expert assessment of the property being purchased. Approximate amount is 1250 Euro + 0.5% of the loan amount.
Stages of mortgage registration:
- Selecting a property and opening a bank account
- Collection of documents and submission of application
- Approval of the application by the bank and expert assessment of the property
- Agreeing on the mortgage terms offered by the bank
- Signing a loan agreement and completing the purchase and sale transaction
- Registration of property rights in the Cadastral Office and insurance policies
*The information is for informational purposes only and is not a public offer.
Prices for apartments in Turkey for mortgages
The choice of options is at least from 80,000 Euros for modern 1+1 apartments in the suburbs of the resort of Alanya, from 120,000 in Alanya itself. In Istanbul, prices are an order of magnitude higher. Housing in new buildings always comes with ready-made repairs.
But if the buyer plans to obtain a residence permit, the apartment must have a cadastral value of 200,000 dollars, and the area must be open for obtaining ikamet. You can find out more during a consultation with our specialists.
To purchase real estate under Turkish citizenship, the object or objects must have a total cadastral value of at least 400,000 USD.
Contact the manager online right now, so as not to miss this opportunity due to the large flow of applications in the banks of Istanbul and Alanya. The consultant will answer you online directly on the site, or contact the specified phones.