Turkey — Property: Mortgage Availability

Key facts

• Turkiye Finans offers financing of up to 75% of the appraised property value for up to 120 months.
• Applicants with residence registered abroad may be offered lira, foreign-exchange or foreign-currency finance; residents of Turkey receive lira only.
• Valuations are done by independent companies licensed by the Capital Markets Board.
• Foreign-issued documents need an apostille (or consular certification outside the Hague Convention) and notarized sworn Turkish translation.
• Properties marked "sales unavailable to foreigners" are excluded. Rates and fees are not published; other banks may differ and many are reluctant to lend to foreigners.

Steps

1. Step 1: Meet Eligibility Requirements — Meet the strict eligibility requirements set by Turkish banks, which typically include a minimum income, high credit score, and sufficient collateral.
2. Step 2: Choose a Lender — Select a Turkish bank that offers mortgage services, and be prepared to work with a local guarantor.
3. Step 3: Apply for a Mortgage — Submit the required documents, which may include proof of income, credit history, and identification, and be prepared to provide additional information to the lender.
4. Step 4: Receive Approval and Disbursment — The lender will review the application and provide a final approval, after which the loan amount will be disbursed to the borrower.