There are 2 Different Types of Mortgage in Turkey
When decıdıng to have a properıty ın Alanya, Milano Homes Real Estate will help you about how you can use these credits.
1- Credit from the Construction Company
Check apartments for sale with payment plan by installments from the Construction Company here
There is a great opportunity to get credit directly from the construction company in Alanya, Antalya, etc. The process is pretty easy. All you need is a sales contract with the construction company where all payment details are written. There are no additional documents, paperworks and costs required.
The Payment Plan is as Follows:
- Down-payment - 50 % of the properıty price
- The remaining amount 50% can be paid with installments upto 5 years (60 months).
One year credit without any interest. After 1 year till the fıfth year with interest 20% lower than bank rates. Whenever you pay 50% of cost of your real estate the TAPU (title deed) delivery is handled on your name with hypothec. Hypothec amount is the remaining money which construction company owes you. That way the sales process is handled fairly and without risk for both sides, the buyer and the seller.
The payment of monthly installments can be done automatically from the buyer to seller bank account.
Types of currencies for payment:
- Turkish Lira (TL), Euros (€), Dollars ($).
- Maturity of payment from 1 year till 5 years.
- Minimum amount of credit - 20.000 Euros
- Applies to people between 25 and 70 years old.
You buy an apartment for 50.000 Euro. You decide to pay 20.000 EUR as down-payment and the remaining 30.000 EUR as installments.
If you pay the remaining 30.000 Euro within 1 year (12 months) installment, you will be asked to pay 2500 Euro each month without any interest.
If you pay the remaining 30.000 Euro in 5 years with a 60 month installment, you will be asked to pay 595 Euro each month with a total payment of 35.700 Euro at the end.
2- Credit from the Bank
You found your dream home and need a bank loan. You can be easily apply to bank loans with reliable and professional team of Milano Homes and you can have your dream home.
You can buy the house you wish with Milano Homes staff that are on your side at each stage. Milano Homes experienced staff are always with you until you move into your dream home!
Buyer must prepare all documents required for the mortgage in Turkey. Milano Homes will help the buyer to open an account and translating all above prepared documents to Turkish language by notary office and registering wıth the bank.
Required documents for application of credit:
- Passport (notary certified translation)
- Tax ID number (It is procured from Tax Office)
- Certificate for address verification (Residence permit)
- Customer income document (with apostil approval and translated into Turkish or English by a sworn translation office)
- Document for the product to be purchased (Tapu)
Credit application is made to the bank after all the documents prepared. "Preliminary approval" comes from the bank maximum 3-4 workıng days. After "preliminary approval", the bank wıll send an expert for property valuation. Following the expert assessment, the bank loan is approved. After that, buyers and sellers documents are completed for title deed application. Finally, title deed (Tapu) application is ıssued.