Mortgage requirements for foreign nationals in Turkey

Mortgage requirements for foreigners in Turkey

• The maximum duration of the loan in Alanya is 10 years.
• The mortgage is given in three currencies: Turkish lira (TL), US dollar (USD), Euro (€).
• The maximum amount borrowed by the banks is 50% of the value of the property. Banks themselves value the property value and are often lower than the market value.
• The monthly interest rate for a period of ten years is around 0.65% (7.8% per annum).
• Early mortgage repayments can be requested at 2%. The fee is based on the remaining amount of the mortgage.

Required documents:

1) Certificate of earnings, such as a letter from an employer that confirms employment details (start date of employment, salary, role, company contact information) or a letter of approval for tax year. 2) A confirmation letter indicating that you do not own the debt and obligation.

3) Copy of your identity document and / or your address.

*** Interpreter service is 100 €.

*** Banks may request additional documentation.