Currency / Language


BLOG Is It Easy to Get a Mortgage in Turkey?

10 August 2020 / Properties

Getting a Mortgage in Turkey: Required Documents

Intending to invest in the Turkish real estate market, many customers ask is it easy to get a mortgage in Turkey? We always say: yes, it is but the question is whether a mortgage is the most logical financial move.

Look at mortgages and repayment terms in your home country, and you will find favourable rates. However, mortgages for foreigners in Turkey have extraordinarily high-interest rates that push the boundaries and restrict your spending power.

It is not unheard of for mortgage rates to be as high as 20%. If you choose this form of financing, the bank will provide anything between 60 to 70% of the value of the home, and you need to submit the following documents.

Getting a Mortgage in Turkey: Required Documents

- Application form

- Notarised copies of your passport

- An overview of private assets and debts (Official documents required)

- Proof of monthly financial obligations

- For employed people, an income statement from the employer

- For self-employed people, an annual report

- Bank statements for the last three months

- A Turkish tax identity number

- A credit report from your home country

- Copy of the title deeds for the property you wish to purchase

- During the application process, the bank will obtain an appraisal form

Other Choices for Financing Your Property Purchase

Many customers who want to live in Turkey all year round sell their property in their home country to finance their purchase here. Those who want a summer holiday home often re-mortgage their existing property for a fraction of the price. Another choice is to look at off-plan developments with long-term payment plans. These are common in Istanbul.

A perfect example are these apartments in Beylikduzu, Istanbul. (Quote reference number 3793 for more information.) Ranging from 2-bedroom flats to five-bedroom villas, communal facilities include an outdoor swimming pool, indoor swimming pool, Turkish bath, fitness centre, landscaped gardens and 24-hour security. For cash buyers, there is a 13% discount, or you can pay.

- 30% deposit and the rest over 36 months

- 50% deposit and the rest over 48 months

- 50% deposit and the final balance when the construction is complete.

Find Out More

If you want to know more about getting a mortgage in Turkey or investing in the real estate market, contact us today. Otherwise, the following articles will also be of use.

Best Places to Buy Property in Turkey: Knowing your budget, and lifestyle requirements will help you decide where to buy property, but if you need help, this article lists the most popular places, and for what reasons buyers choose them.

Turkish Property Buying Process: It may be daunting to buy a house in a country where you don’t know the legal laws and regulations, but rest assured, the Turkish system is fast and straightforward. We outline what to expect, what to know and how long the process will take.

Related Properties


2 Bedrooms Apartment for Sale

map pin icon Antalya


5 Bedrooms Villa for Sale

map pin icon Dalyan


4 Bedrooms Apartment for Sale

map pin icon Antalya


8 Bedrooms Villa for Sale

map pin icon Istanbul


5 Bedrooms Villa for Sale

map pin icon Izmir

Download Turkey Homes Mobile Application