Property in Turkey_ Turkish Real Estate

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					Property in Turkey, Turkish Real Estate

Over 70,000 properties have been sold in Turkey to foreign buyers in recent years as the legislation
allowing foreign buyers permission to purchase has been clarified according to Turkish daily Today’s
Zaman. Naturally this strong level of overseas interest in Turkish real estate has had a decidedly positive
effect on property values as well, which means more holiday home seekers, property investors and
would-be retirees are now looking for property for sale in Turkey with mortgages available.

Luckily for them the exciting and emerging property market in Turkey is exceptionally well developed in certain
areas and one way in which the Turkish property sector excels and leads other emerging markets is though its
mortgage law and the availability of international mortgages for the purchase of property in Turkey. We can
confirm that if you are a British, Belgian, Dutch or German citizen resident in your home country and you’re
looking to finance the purchase of a completed property in Turkey - Euro and Sterling mortgages are now
available to you.

The mortgages are available through a variety of lenders through one British based international mortgage
brokerage which has over 20 years experience in the provision of funding for the purchase of overseas
properties. They have recently updated us with the terms and conditions that they and the lenders apply to
borrowers, property for sale in Turkey and the provision of home finance. In general terms, the Turkish property
to be purchased and mortgaged must be ready for habitation (i.e., no off plan properties please), any mortgage
taken out will be secured on the Turkish property, repayment mortgage schemes are available and future
potential rental income will not be taken into account when calculating how much you can borrow.

All mortgage applications are considered on a case by case basis and any information provided herein and
initially by the brokerage in question does not constitute an offer of a loan. What’s more, because the mortgage
for the property for sale in Turkey will be secured on Turkish immovable real estate, the loan will not covered by
the UK Consumer Credit Act or the Financial Services Authority.

If you’re looking for property for sale in Turkey with mortgages it is highly advisable to get a mortgage agreed in
principle or at least get a confirmation from a lender or a brokerage of the amount you can realistically borrow
before you commit to purchase – this is because if you sign a preliminary contract and pay a deposit and you then
find out you cannot raise sufficient funds to go through with the purchase, you will not only lose the house of your
dreams but you stand to lose your deposit as well.

In terms of the broad lending criteria currently available for the purchase of real estate for sale in Turkey here are
the facts