Mortgage for foreign citizens in Turkey was a very popular procedure 5 years ago. At least three banks were giving money to newly minted property owners, and the interest rate was extremely attractive and ranged between 6.9% and 7.8% per annum.


Having half the amount to buy the apartment of your dreams on hand, you could easily get a loan by presenting a minimum number of documents. Most of the loan clients were citizens of Russia and other CIS countries.


Since the end of 2014, financial crises have hit the world, affecting people who changed their currency to euros/dollars to pay off a loan. This was followed by a significant drop in the Turkish Lira and the issuance of loans to foreigners was suspended, and in some banks stopped.

At the moment some banks started again issuing loans to residents of the CIS. But the level of overpayment is already quite high and with the exception of one Bank all of them are issued in Turkish Lira.

Unfortunately many of our colleagues still attract potential buyers with old interest rates and incline them to choose mortgage lending as a successful payment option for purchasing real estate.
Liga Real Estate provides clients with only 100% accurate information from the leading banks in Turkey.

Mortgage registration

Documents that you need to get a loan:

• international passport;
• certificate of employment;
• income statement in any form for the last 3-6 months.

How does the mortgage process work? After selecting the desired property, you submit an application and all the listed documents to the Bank. An independent evaluation Commission will come as soon as possible. The application processing period is from 3 days to 2 weeks. The amount you should have is at least 50% of the property value. Also don't forget that the property belongs to the Bank until it's paid off all the debt. 

Liga Real Estate company will accompany you at all stages of mortgage registration, but due to the high interest rates, we recommend taking loans for a small amount if your budget is a little short of the desired apartment or it's not possible to purchase it in installments.

The formula for calculating loan

For each buyer of real estate in Turkey, the main issue when obtaining a mortgage will be the amount of overpayment from the declared value. Banks offer to calculate this amount using a credit calculator or by contacting the organization directly. 

The loan amount is the total expenses that the client will have after receiving the loan. This may include the main amount requested, the interest rate for using the received funds, insurance, and additional commissions.

For understanding we offer the following simple scheme, where the initial payment is 50% of the property value indicated on the website, when calculating the payment for 60 months at 13.8 % per annum in euros or 29 % per annum in Turkish Lira.

In all countries of the world today, banks are the main holders of currency and various assets. The system is as follows: if people do not have enough money for the desired purchase, they will be able to buy with a loan.

Banks in Turkey are reliable and highly efficient organizations that provide a full range of services according to European standards.

Therefore, if a real estate buyer needs to get a mortgage for a second sale or if the developer does not have an interest-free installment plan, our agency Liga Real Estate is ready to make every effort to make obtaining a mortgage loan as comfortable and profitable as possible for the applicant.

Svetlana Kalashnikova

Sales manager

russian, english

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