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 loan. After your approval we will complete the application form and start the application procedure. The bank will send an appraiser to your house to value your property. A maximum of 5 working days later the branch will inform you about the offering that we can do for you. You will be handed out the pre term sheet that you can use as our written promise to you. After presenting the pre term sheet to you, you are asked to sign the pre term sheet and pay the commitment fee. After signing following a period of a maximum of four months, we start 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 account. After collection of all the documents mentioned above the bank will give its final approval and 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 make deals with project developers to finance uncompleted houses in a project. Sometimes Turkish Banks give loans before completion of the house or give you upfront the commitment that the Bank will pay out a loan after completion with the upfront agreed conditions.
Please remember these rates are approximate and Banks may change the interest rates without giving any notice.