How to get a Mortgage from Turkish Bank?
Please bring all the required information with you for your new house. Together with the bank you will discuss all the conditions and benefits of the loanAfter your approval we will complete the application form and start the application procedureThe bank will send a appraiser to you house to value your propertyMaximum 5 working days later the branch will inform you about the offering that we can do to youYou will be handed out the pre term sheet that you can use as our written promise to youAfter presenting the pre term sheet to you, you are asked to sign the pre term sheet and pay the commitment feeAfter signing a period of maximum four months starts to arrange:DASK: (nature disaster insurance)House insurance; iskan Ruhsati (house permission)Approval of the ministry of Defense (Savunma Bakanligi)Tax number and opening a demand deposit accountAfter collection of all the documents mentioned above the bank will give its final approval will make an appointment to pay out the loan and put the mortgage on the title deed at the Tapu office
Off Plan Mortgages
Some Turkish Banks makes deals with project developers to finance uncompleted houses in a project. Sometimes Turkish Banks gives loans before completion of the house or gives you upfront the commitment that the Bank will pay out a loan after completion at upfront agreed conditions.
Please remember these rates are approximate and Banks may change the interest rates without giving any notice.