Obtaining Mortgages in Turkey from the Bank
Many Turkish banks offer mortgages for foreigners, and DPM Group can help you to apply for one, once you have chosen the property you want to buy. Before going to the bank, all documents need to be prepared as in accordance with the application process.
- Passport and Notary Translation
• Tax ID number, which we will help you to obtain
• Proof of your address. Valid documents include a Residency permit, or an ID card or utility bill that shows your address, and name. Water, electricity, gas, and internet utility bills are the most commonly used.
Once you have those documents, we will help you to open a bank account and apply for a mortgage of which you will also need the following;
- Proof of income
• Last 3 months bank statement (In case you have your own company or business)
• Title Deeds of the property that you wish to purchase
You will receive “preliminary approval” roughly 3 to 4 days later, and the bank will send an expert to the property that you want to buy so they can value it (you need to know that there are some extra fees that should be paid the Bank). Following the expert assessment, the bank loan is approved, and the application for transferring the title deeds can begin.
For more information on structured interest-free payment plans from construction companies, or traditional bank approved mortgages in Turkey, contact us via email, telephone or by visiting our office.