Just as you would have in any country in the world
, Turkey too has its own system by which you can obtain a konut kredisi or a mortgage loan. To begin with thereare a few basic requirements that you need to fulfill. You need to be 18 years of age and will need to show a monthly net income of 200,000 TL or more. When you are applying for a loan to get a property, it is necessary that the property be ready to be occupied and allow for a minimum right of easement. All applicants should produce their applications along with a copy of the title of the proposed property.
If you are a Turkish citizen who is based abroad, you will then need to fill out a Decision in Principal Application Form. This is a form that can be filled out instantly and can be done online. If you want begin the finalization process then you will have to submit all the required documents along with the application to the DD. The documents you require as a non-resident Turkish citizen are the completed and signed application form, a copy of your passport, the original of which has been
verified by the DD Mortgage sales representative. You will also need an approved proof of residence and your income documents along with the apostille. As a non-resident you will need to have a ID card and this has to be furnished as well. Proof of any assets you possess is needed as well. All of these documents will also have to be submitted in the name of a co-applicant if there is one.
Your final application will take the maximum of 2 days to be approved and this is for all properties that are based in Istanbul. Appraisal report fees can be paid via credit card. Based on the value of the appraisal, the maximum amount of the konut kredisi will be determined. In general, you will be able to get a maximum of 50 per cent of the value of your proposed property.
Once the appraisal process is done, you will need to sigh what is known as a pre-contractual sheet of information. Turkish law states that you will need to sign the loan document a day after you are done with the pre-contractual information sheet. This document will have all the details of the loan you are going to take.Being prompt in your payments is essential when it comes to payments on your konut kredisi.