How to get a Mortgage in Turkey?

Esila would be glad to offer competitive mortgage rates from experienced Turkish Banks in Side, Antalya. You will also benefit from our knowledge about legal obligations, restrictions and procedures which are applicable for foreign citizens' property purchase and banking transactions..

Foreign buyers are able to get mortgage for off plan properties, which is a unique incentive in Turkey for home buyers. Its a very usual practice especially in coastal regions of Turkey which are preferred by the foreigners for a new apartment. Esila has special agreements with the banks which will provide the lowest rates in Turkey. These special rates are valid only for Esila buyers for off plan projects as well. The system can be summarized as follows;
 Required documentations are given to the nearest branch of the bank .
 An appraiser will be directed to your property for appraisal report.
The branch will inform you in maximum 5 business days with regards to your mortgage application
You will be handed out the pre term sheet that you can use as the banks written promise to you
 The bank will present a pre term sheet to you which notifies your mortgage conditions.
 After you sign the pre term sheet you will need to pay the commitment fee
 Pre term agreement will be valid of four months. Meanwhile, we will be expecting you to a  rrange:

* DASK: (nature disaster insurance) * House insurance; Ýskan Ruhsati (house permission) * Approval of the ministry of Defense (Savunma Bakanliði) * Tax number and opening a demand deposit account

 After collection of all the documents mentioned above, the bank will give the final approval.
 An appointment to pay out the loan and put the mortgage on the title deed at the Tapu office will be arranged.

General features of a mortgage loan

Loan to value :	Maximum 50% of the appraisal value (not always equal to the sales price)
Debt to income:	Maximum net salary to spend to installment for total loan position 50%
Valuation of income:	Only salary income transferred to a bank account, average profit of the last 2 years, pension income
Maximum amount :	No maximum
Minimum amount :	€25.000
Nationalities :	All countries that have a reciprocal agreement with Turkey.
Maturity:	10 years
Interest types:	fixed
Early repayment:	possible with 2% penalty fee
Property valuation:	the banks arrange valuation
Age of application:	25 – 70 years
Life insurance:	no obligation
Off plan mortgage:	possible with a guarantee from construction company

Requested documentation for mortgage application
Official translation of all documents (other than Turkish or English) listed below into Turkish is required . A tax number is also required. The applicant shall apply to the local tax office in Turkey and get a tax number. Esila will assist all buyers to get tax number from the related local state Office.
Official tax statement of the most recent year in the home country (for example P60)
The official document that shows the applicant's credit history/records in the country where the applicant currently resides.
Copy of the Tapu of the object that will be bought ("Kat mulkiyet tapusu" or "Kat irtifak  tapusu + yapi kullanim izin belgesi")
Copies of passports made and signed by the branch or notary
Income statement of employers signed by the employer
Official document/declaration from a public notary/cadastre that the person who signed the income statement is allowed to sign
Bank statements declaring the income (not older than 3 months)
 Documents proving monthly financial obligations (rent, house loan installments, alimentation)
Overview of private assets proven by official statements
Overview of private debts proven by official statements  Signed application form of the bank

DENÝZ BANK DEXIA TURKEY SPECIAL MORTGAGE RATES

Property Price	Down Payment	Loan	Months	Rate	Monthly Payment	Total Payment
149.000 €	49.000 €	100.000 €	60	0,33%	1.883	112.980
			120	0,33%	1.011	121.320
			180	0,47%	825	148.500
Property Price	Down Payment	Loan	Months	Rate	Monthly Payment	Total Payment
149.000 €	69.000 €	80.000 €	60	0,33%	1.506	90.384
			120	0,33%	809	97.056
			180	0,47%	660	118.800
Property Price	Down Payment	Loan	Months	Rate	Monthly Payment	Total Payment
149.000 €	99.000 €	50.000 €	60	0,33%	942	56.490
			120	0,33%	506	60.660
			180	0,47%	413	74.250
Property Price	Down Payment	Loan	Months	Rate	Monthly Payment	Total Payment
149.000 €	119.000 €	30.000 €	60	0,33%	565	33.894
			120	0,33%	303	36.396
			180	0,47%	248	44.550

Property Price	Down Payment	Loan	Months	Rate	Monthly Payment	Total Payment
99.000 €	29.000 €	70.000 €	60	0,33%	1.318	79.086
			120	0,33%	708	84.924
			180	0,47%	578	103.950
Property Price	Down Payment	Loan	Months	Rate	Monthly Payment	Total Payment
99.000 €	39.000 €	60.000 €	60	0,33%	1.130	67.788
			120	0,33%	607	72.792
			180	0,47%	495	89.100
Property Price	Down Payment	Loan	Months	Rate	Monthly Payment	Total Payment
99.000 €	59.000 €	40.000 €	60	0,33%	753	45.192
			120	0,33%	404	48.528
			180	0,47%	330	59.400
Property Price	Down Payment	Loan	Months	Rate	Monthly Payment	Total Payment
99.000 €	69.000 €	30.000 €	60	0,33%	565	33.894
			120	0,33%	303	36.396
			180	0,47%	248	44.550