financing


There are 2 different types of mortgages for a property in Turkey. PATRONS International Grop Ltd. helps you in obtaining a mortgage.
 
1- credit from the construction company
There is a great opportunity to get a loan directly through our construction company in Istanbul. The process is pretty simple. All you need is a contract of sale with us, in which all information about the payment process are specified. No additional documents, paper works and costs are required.

 The payment plan is as follows
- Deposit -50% of the property price
- The balance of 50% can be paid in installments of up to five years (60 months). The first year you receive the loan interest-free. After one to five years (after interest), the interest rate is 10% lower than the bank interest. Once you have paid 50% of the cost of your property, the transfer of the Tapu (title deed) in your name with the registered residual mortgage. The amount of the mortgage is the balance that you owe the construction company. In this way, the sales process is handled fairly and without risk for both sides, buyers and sellers. Payment of monthly installments is automatic. Type of currencies for payment: Turkish Lira (TL), Euro (€), Dollar ($). Due date of payment between one and five years. Minimum amount of credit 20,000 euros. Applies to people between 25 and 70 years.

 

Case study

You are buying an apartment for 50,000 euros. You decide to pay a down payment of 20,000 euros and the balance of 30,000 euros in installments. If you want to pay 30,000 euros within one year (12 months), you would pay 2,500 euros per month without interest. If you pay the remaining 30,000 euros in five years with 60 monthly installments, the monthly rate is 595, - €. The total amount is calculated at an amount of 35,700 euros.

 

 2- Credit from the bank You have found your dream home or apartment and need a bank loan. It's easy from the bank, with PATRONS International Group Ltd. Support to get a loan. We accompany you in every phase. Furthermore, we help you to apply for and open a bank account for you.

 

Required documents to open the bank account:
- Passport and notary translation (We help you to get a certified translation)
- Tax number (We help you to get it from the tax office)
- Certificate for the verification of the address (Valid documents: residence permit, address, identity card or electricity and gas bill.) Water, electricity, gas, internet bills are the most common ones that show your name and address together.) Patrons International Group Ltd. Helps you get a bank account at short notice. 

 

 After opening a bank account, we request the loan with these documents:
- Customer Receipt Document (with Apostille approval and translated into Turkish or English by a sworn translation agency)
- Statements of the last 3 months of your account, on which your regular income flows.
- A written confirmation from your bank in your country that you have no debts to the bank in your country. (You can request this from your bank)
- Document for the product to be purchased (title deed of the property)
After all the documents have been prepared, a loan application is made to the bank. The "provisional approval" of the loan approval comes from the bank at most 3-4 days later. After receiving the "Provisional Approval" from the bank, the bank sends a property valuation expert. After the appraisal, the bank loan is approved. After the bank approves the loan, the buyer and seller with all complete documents, the registration in the land register (Tapu) is requested. Finally, the land register application (Tapu) is made.

 

If you are considering applying for a mortgage in Turkey, our team of PATRONS International Group Ltd. can help you. Obtain your prior authorization from a Turkish bank to prepare your documents prior to your trip.