You went on holiday to Turkey and you liked it very much. Imagine, you wanted to buy a property in Turkey to spend your holidays with your family. You are dreaming of a wonderful villa with a private pool and garden where your children will spend a lot of time.
There are generally two ways of financing to buy a property in Turkey. You may guess the first option: having cash. Secondly, you may need to re-mortgage the house you own in the UK to get a loan. The second option may be quite difficult and only a limited number of UK banks help with it. In addition, it may not be a good fit for you to take risks by re-mortgaging the house you own. It is better to contact the UK banks that have branches in Turkey. If you are thinking about letting out while you are not in Turkey, look for holiday let mortgages for overseas properties.
Mortgages for Properties in Turkey for Foreigners
You can also get a mortgage from the banks in Turkey. However, we cannot say that it is an easy way to meet Turkish banks conditions if you haven’t got enough deposits. As a foreigner, you can get a mortgage to buy a property in Turkey, but the loan amount cannot exceed 60% of the value of the property. This means you need to have 40% of deposits for your new home in Turkey. You will also be asked to prove with your income that you can pay your mortgage regularly. Also, you should know that high-interest rates in Turkey may cost you a lot.
If you feel stuck and you don’t know what to do. Do not worry, you have a second chance that we will offer you and that is not risky at all.
You can participate in our holiday villa competition. Have the chance to win a stunning holiday villa in Didim, Turkey by entering our house raffle.
