Finance for property in Turkey

As mentioned throughout these guides –you need to always consider your budget. In helping you work this out, it is important that you start by making a list of all sources of finance that is in your possession. Consider whether the money you list down is readily available or if it is available after a certain period of time. It is quote typical for those wanting to buy to depend on either their savings, any inheritance money they may have received or re-mortgaging of their property. House sales in Tukey compared to the U.K. can take place relatively quickly and can complete any time between 6 weeks to 3 months.


You may wish to obtain a mortgage on the property you intend to purchase and we can assist you to get the best deal to match your requirements as we have access to a range of lenders who can offer you favourable terms. This would be a better option that obtaining a mortgage via a Turkish bank where re-payment rates tend to be higher than that for Turkish citizens.  Please consider the following steps as a guide to obtaining finance for a property in Turkey:

  1. We have access to a range of mortgage lenders and will help match you with the best lender that will fully match your requirements. Once we propose a lender to you, the following 4 steps will need to be carried out in order to secure the finance on your new property..
  2. You will need to obtain an agreement in principle which will detail exactly what the lender can lend to you and set out terms and conditions of the mortgage.
  3. Once you are sure that you will purchase, you will need to make a mortgage application and it is at this point that the lender will need to see documentation including evidence of your income, identity and address. From this information the mortgage lenders will do a credit check.
  4. Next your property will need to be valued and all legal requirements will need to be satisfied. Again we can help organise a valuer and lawyer to assist you. The valuer will just do a check to see whether the price agreed between you and the lender is correct.
  5. You will receive a formal finance offer from the lender once the lender is happy with the valuation and the terms. As soon as the offer has been accepted by you, then the lender will provide the finance you require.
  6. Finally, your Solicitor will organise a date for the transfer of titles of the property to your name and the property will then be all yours.

What rates are available for Turkish property mortgages?

Annual interest rates can start from as low as 5%. The maximum loan to value on a Turkish property is 80% which means that the minimum deposit of 20% needs to be put down.

We have an experienced team who can use their knowledge to get you the best mortgage with the best rate and mortgage criteria to fulfil your needs.

Please Note: It is our partner company Finbud who will help arrange the mortgage

Currency Exchange

Understandably, you will be working out your budget in the currency of your home country, but the value of your property is usually determined in Turkish lira. It is important to keep abreast of changes in the exchange rate to see how your property is performing and especially if you are considering selling your property or considering what rental income you would like to receive based on the market. The currency exchange rate at the time of handing over the money is also important as differences in the exchange rate may make a difference –in either you not paying as much as initially thought or in actual fact paying more.

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