Mortgages / DENIZ BANK

Buying a house in Turkey as a foreigner

 Turkey has a reciprocal agreement for the purchase of land and property with many countries. This means that the people of these nations that allow Turks to buy land in their countries, can in return, buy land in Turkey. Foreigners may purchase in their own name if the property is outside military zones. Based on these agreements foreigners of the following countries are eligible. England(United Kingdom), Germany, Australia, Austria, Belgium, France, Holland Ireland , Spain, Italy, Canada, Luxemburg, Norway, Greece as well as some African and South American states(See the list below).

No matter where the land or the house may be situated if the buyer is a foreign person, the deed office has to officially ask the prior approval or permission of the highest military command of the area before transferring the title (Approval of the Ministry of Defen c e : Savunma Bakanliği). The duration of the request for permission is approximately on 30-60 days. The reasons for this are to ensure that foreign buyers will not acquire a property within military zones. No land or property within forbidden regions and safety regions can be sold, transferred or rented. (Forbidden regions - Military zones).

More and more foreigners are interested in buying property in Turkey. In 2006 around 50,000 purchases from foreigners have been taking place. More and more foreigners are looking for financing their new property at a local bank.

Foreigners, with different behavior/features, require a different application approach. Therefore DenizBank has developed mortgage loans specially for foreigners

Countries which have full reciprocity with Turkey in terms of real estate acquisition

How to get a Mortgage from DenizBank?

1.  Please provide all the required information to the nearest branch of your new house. Together with the branch you will discuss all the conditions and benefits of the loan.
2. After your approval we will complete the application form and start the application procedure.
3. The Bank will send a Surveyor to your house to value your property.
4. Maximum 5 working days later the Bank will inform you whether your Mortgage Application is approved.
5. You will be handed out the pre term sheet that you can use as our written promise to you.
6. After presenting the “pre-term sheet” to you, you will be asked to sign the “pre term sheet” and pay the commitment fee (1.5%)
7.  After signing the contract, a period of maximum four months starts to run for your Mortgage Application to be completed.
Things you will need to provide.

o  DASK: (Natural Disaster Insurance)
o  House insurance; İskan Ruhsati (Habitation Certificate)
o  Approval of the ministry of Defense (Savunma Bakanliği)
o  Tax number and opening a Deposit Account.
o  After collection of all the documents mentioned above the Bank will give it’s final approval, will make an appointment to pay out the loan and register a charge on the Title Deeds at the Registration

Office.

Off Plan Mortgages

Deniz Bank makes deals with project developers to finance uncompleted houses in a project. Sometimes Deniz Bank gives loans before completion of the house or gives you upfront commitment that Deniz Bank will pay out a loan after completion at with the agreed conditions.

Please ask for our Current “Joint Promotions” with develops and ask for the special conditions.

Mortgage Rates

Deniz Bank offers most competitive rates in the market.

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