Turkish Property Port

Financing Your Turkish Property

If you are planning to buy Turkish property, we can assist you in the best way possible to help you find financing. There are available options, with the most common one being mortgage financing. We will be happy to take you through the entire mortgage financing process, help you in getting the latest and best available rates and taking care of the paperwork.

Types of Loans

There are fixed rate and floating rate loans available in mortgage financing. In Turkey, more people prefer fixed rate loans, because they allow one to payback the loan in equal monthly installments. This is also risk-free and will not be affected by fluctuating market conditions.

To be eligible for mortgage financing, the property must be registered in the title deed registry. Different financial institutions can provide you with mortgage financing. To apply for a loan, they typically require the following documents:

  • Application form
  • Copies of passport (signed by the branch or notary)
  • Overview of private assets proven by official statements
  • Overview of private debts proven by official statements
  • Documents proving monthly financial obligations (rent, house loan installments, alimentation)
  • Income statement for employees signed by the employer
  • Bank statements declaring the income (not older than 3 months)
  • An appraisal report of the property, which will be prepared by the financial institution
  • Tax Identity Number (You can apply to the local tax and get a tax number)
  • Certificate from the credit record office of customer's home country
  • Copy of the title deed of the property

The appraisal process determines your property’s value and confirms legal conformity. The financial institution carries out the appraisal process and it is usually finalized in a few days.

Even if your property is in project phase, you can still find mortgage financing under certain conditions, however general practice says that the property needs to be ready to be occupied and have minimum right of easement.


Loan-to-value, or LTV defines how much mortgage financing you will receive, in relation to how much your property is worth. It normally reflects the percentage of your property that is mortgaged, while the amount that is yours is called equity. You can get up to 75% LTV.

Compulsory Natural Disaster Insurance

After Turkey suffered the devastating Marmara earthquake in 1999, compulsory natural disaster insurance (DASK) was introduced.  Both the title deed registry and utility companies require this insurance in order to proceed with their transactions. You may also insure your property against other risks, like theft, fire, flood, etc.