Mortgage in Turkey

[SBR]

Hi,

How is the situation of mortgages in Turkey recently? Is it good?
Is "Interest-only" mortgage common in Turkey?
First time investor
Thanks-shayan

 

[Sunny Days]

Hi Shayan

The Turkish banks do not offer interest only mortgages.
Banks are still lending IF you have money behind you or you have high disposable income. The lending criteria has not toughened due to a credit squeeze, it has always been this way.
Banks differ in terms of LTV, redemption fees, lump payments and interest rates.
Interest rates were dropped slightly, earlier this year, but are still a lot more pricey than UK and European rates.

 

[Rammah]

Mortgage is very easy to get!!!

I recently purchased my first prop in Turkey, and I'm getting an 80% loan to value mortgage which was designed for International buyers [Mainly residing in Europe, North America and Australia]!

If you need any further info, pls let me know, and I can gladly recommend you to the company who did everything for me!

Regards,


Rammah
07940978127

 

[helpplease]

Is it true you need to set up a company in turkey to buy a property? or does that help make it more tax efficient? I've spoken to some Turkish friends who mentioned it

 

[TH4S]

Short answer no you don't need to set up a company