REMORTGAGES, EQUITY RELEASE AND POST FINANCE
Remortgages. If you recently completed your purchase with a Turkish residential bank, it is probable that your rate was quite high.
Turkish Mortgages PLUS can help you remortgage this with an alternative provider at a much lower rate, currently 5.3%.
Equity Release. If you purchased your property after 1999 (but not within the last 12 months), you can apply for equity release. Equity release is limited to 60% of the property's valuation and is available to Employed applicants only.
Post Finance. For individuals who completed from their own resources in the last 12 months, a form of equity release labelled Post finance is available. Again the loan amount is restricted to 60% of the property's valuation.
Quick Financial Facts
| Rate Range: | From 5.3% in Euros |
| Minimum loan: | 50,000 Euros |
| Maximum loan: | 60% |
| Term: | 20 years |
| Maximum age: | 80 years |
| Currency: | Euros Only |
Click here. for more information on our rates and products
Frequently asked questions
Do I qualify for a mortgage in Turkey?
To qualify for a mortgage in Turkey, a calculation is used to establish whether you can afford to maintain the mortgage repayments. TMP will do this for you free of charge. You will need to complete our pre-approval form, which can be found here.
How much can I borrow?
The amount you can borrow is limited by your affordability. As we have access to a variety of lenders, the way this is calculated can vary from lender to lender. If you would like us to calculate your maximum borrowing based on your affordability then please complete our enquiry form here. Completing this form will allow you to budget precisely for your purchase in Turkey.
What evidence of income do I need?
These products apply to employed applicants only.
- Your last three month’s payslips
- Your latest P60 or Employers Reference
- Your last three month’s personal bank statements
- Bank statements showing the transfers made to purchase the property.
How is the mortgage repaid?
If you borrow in Euros or Sterling, repayments are made via your UK bank account by direct debit. If you are repaying in Euros, an account with MoneyCorp will need to be set up. This is done free of charge.
