Property in Turkey | Mortgages in Turkey

It is now possible for non-Turkish citizens to get mortgages in Turkey for their property in Turkey, providing they are entitled to buy property there. The Turkish Property market is booming and around 17,000 British investors already own property in Turkey. The Independent's Laura Howard recently named Turkey as the number one location to purchase a home abroad (Mar 08).

The method used to buy an overseas property very much depends on individual circumstances and often requires financing. The system for mortgages in Turkey is in its infancy having only been recently established.  However, even at this relatively early stage there are a variety of financial products available both in the UK and in Turkey.

Nirvana International has thoroughly researched the market and we are hoping to introduce off-plan mortgages in Turkey of up to 75% in 2008.  To register your interest in mortgages in Turkey, just enter your details in the box below and we will be in touch when we have this option:

	Please note there is no obligation
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There are a number of companies offering mortgages in Turkey.  Below are some examples, there are some variations but it will give you an idea of what you can expect.

Top 5 tips for mortgages:

1. Be careful! If you need a mortgage to pay for a property in Turkey, don’t put a deposit down on a property until you have the offer in place. There are a number of companies that offer off plan mortgages in Turkey, some as much as 100%. If you are thinking about applying for such a mortgage, good advice is to speak to someone that has gone through the process with the company so you can check before you commit.
   
   
2. You will notice the terms Loan to Value/Loan to Appraisal. There is a difference between the two.
   
   LTV = the percentage relationship between the amount of the loan and the appraised value, not the sales price. It is not uncommon for the appraised value to be 20% lower than the sales price.
   
   
3. There are two different types of mortgages in Turkey. Off-Plan and Built. Off-plan property is property that is for sale before it is built.  This can be cheaper for the buyer than purchasing re-sale or completed property in Turkey.
   
   
4. Remember - overseas mortgages are a specialised field and can take some time to implement. It is advised you get independent advice from an expert on mortgages in Turkey.
   
   
5. Nirvana has produced an in-depth guide to ‘Investing, Buying and Living in Turkey’.
   Click here to view
   
   

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Why buy property in Turkey?

• High returns on investment for ptopert yin Turkey.
  
  
• Great rental potential.  Turkey was named in the top ten countries where holiday homes are most in demand.  The survey by holidaylettings.co.uk placed Turkey seventh in a list of 112 countries (Feb 08).
  
  
• Relatively low cost of living compared to other European countries.
  
  
• Fantastic weather – an average of 300 days of sunshine a year in the Antalya region.
  
  
• Great hospitality, stunning beaches, fascinating historic sites and championship golf courses to name but a  few reasons to invest in property in Turkey!

Nirvana International has thoroughly researched the market and we are hoping to introduce off-plan mortgages in Turkey of up to 75% in 2008.  To register your interest in mortgages in Turkey. click here.

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Why not use the link below for an estimate of your monthly mortgage repayments:
http://www.bbc.co.uk/homes/property/mortgagecalculator.shtml