Understanding Mortgages in Türkiye for Foreign Property Buyers: A Comprehensive Guide

Mortgages in Türkiye for Foreign Property Buyers

When considering buying a property, financing is an important issue. Banks make it easy with their mortgage loan opportunities. Turkish banks provide mortgage loans to borrowers up to 75% of the property value. The value of the property is audited by a sworn appraiser in accordance with SPK (Turkish Capital Market Authority) regulations. This report also contains due diligence.

Obtaining mortgages in Türkiye for a foreigner

Foreigners can obtain a loan of up to 50% of the value of the property. Foreigners choose USD or Euro currencies because they are more advantageous than TL because they already contain inflation rates.

Typically, the mortgage process fails when a stranger applies for credit due to miscommunication and lack of knowledge. Winners Group helps you apply for credit, once you have chosen the property you want to buy . Before going to the bank, all documents should be prepared according to the application process.

Once you have the required documents, we will help you open a bank account and apply for a mortgage. You will receive a “preliminary approval” approximately 3 days later. After this approval, the bank will send an appraiser to the property when you pay the appraisal report fee. Depending on the declared value, you can get up to 50% credit. After final approval, the title deed transfer process can begin.

Winners Group advises to “leave the work to the professionals” if you are buying a property with a mortgage in Turkey. Winners Group has been proven time and time again to handle the entire process between lender and bank very easily.