How to Get a Loan From a Turkish Bank

How to Get a Loan From a Turkish Bank


In Turkey, foreigners can get a loan for the purchase of real estate. If you do not have enough money to buy immediately, then the mortgage option is in many cases very convenient, since the buyer can immediately after the loan is issued and the down payment is paid, issue the ownership right (issued with a certain wording) and use the apartment.

Among foreigners who purchase housing in Alanya, it is popular to purchase real estate on credit, because Turkish banks differ in relatively low interest rates and ease of registration.


  • The process of obtaining a mortgage for foreigners is quite simple, but it has a number of features:

    To obtain a mortgage in Turkey, a foreigner does not have to have a residence permit.
    You can get a loan only if the amount of the initial payment is 40-50% of the established expert (cadastral) value of the purchased property.
    The amount of the loan depends on the type of property and the income of the buyer.
    The buyer will have to pay the agreed initial payment to the seller before receiving the loan, and only after that the loan will be finalized.
    Basically, the bank does not issue money to the borrower-buyer, but sends them directly to the seller's or developer's account.
    There are no restrictions on the amount issued as such.
    The client must have the citizenship of a country friendly to the Republic of Turkey and having an agreement with Turkey within the framework of these financial transactions.
    A mortgage in Turkey is issued with a maturity of 1 to 10 years.
    The age of the borrower should be from 25 to 70 years (meaning that by the time the mortgage is fully paid, the client's age should not exceed seventy years).
    At the request of the bank, real estate insurance and DASK earthquake insurance are issued.
    The monthly payment amount is debited from the buyer's bank account.
    As a rule, there is a commission for issuing a loan, the amount of which is set by each bank individually.



Interview at the bank, filling out a questionnaire.
The Bank sends an appraiser to the facility, who will evaluate the property and prepare the appropriate document. This procedure takes an average of 2-5 days.
The bank issues a letter of guarantee of readiness to issue a mortgage.
Next, the buyer transfers the agreed amount of the initial payment to the seller, the contract is signed, the buyer pays for the bank's services and after that the bank transfers the amount specified in the mortgage agreement to the seller's account.



Passport (original and notarized copy).
Personal income tax certificate-2 for employees, or a two-year tax return for private entrepreneurs.
An extract from the bank account, where the movement of funds for 3 months will be indicated, as well as a credit history statement.
TAPU and its copy of the property that you want to purchase in a mortgage. 

Some banks may require additional documents (including proof of financial viability), which depend on the individual situation of the client and the internal rules of each bank.