Turkey's property market has never been stronger with the new mortgage law enabling foreigners to access Turkish mortgages.
Until recently the only financing option for buying a property in Turkey was re-mortgaging your existing UK property or digging into your savings. Today, many banks in Turkey offer attractive mortgage packages for foreigners.
In order to fund a purchase of a property in Turkey, for those who have equity, you might choose to re-mortgage in your own country. Alternatively, you could raise a Turkish mortgage here using one of the several mortgage providers including , Denizbank, Isbank, HSBC, Garanti Bank.
Mortgage Rates:
Now is the perfect time to invest in Turkey's rapidly growing young property market. With mortgages available, owning your slice of paradise in Turkey has never been easier!
Many banks offer standard variable rate, repayment mortgages in GBP for finished properties in Turkey. These mortgages are available for a maximum of 75% of the property's valuation with repayment terms up to 15 years.
At the moment Isbank's interest rate for a mortgage is 6.4% variable.
This means you can now buy a 2-bedroom apartment at £40.000 only if you have £10,000 in savings. Monthly mortgage repayments start from as low as £260 which largely could be covered by the rental income as the Turkish properties have excellent rental potential.
Contact us for more information about mortgages...
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