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Mortgages / ISBANK LONDON
ISBANK LONDON
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MORTGAGES IN TURKEY
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Mortgage for foreign nationals in Turkey is now a reality. There are few lenders who will secure their loan on your property you are borrowing for. You have to be a UK resident (or residents of countries which have reciprocity agreement with Turkey) and have a regular income.
Holiday Homes In Turkey can now offer a mortgage product from one of the largest banks in Turkey.
Mortgages are available for properties located in Istanbul and the resorts in Turkish Riviera. The resorts include Kusadasi, Bodrum, Fethiye, Antalya, Alanya , Datca, Didim, Mugla & Mahmutlar.
Lender`s current (as of 9th of July 2007) standard variable rate is a very competitive 8.00% AER* and the overall cost for comparison is a typical 8.35% APR** (Variable).
It is subject to change (normally in line with changes in the Bank of England base lending rate which is currently 5.75%). Lender will make every effort to keep their rates competitive and in line with Bank of England base rate.
 "Application Form" "PDF Brochure"
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Maximum Term
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15 Years
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Currency
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Euros / GBP
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Mortgage Rate
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8.00 % (Standard Variable Rate)
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"Buy-To-Let" Rate
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8.50 % (Standard Variable Rate)
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Type of Properties
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Completed properties
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Minimum age
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18
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Maximum age
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No maximum age
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Minimum Loan amount
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No minimum amount
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Maximum Loan Amount
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€400,000 / £265,000
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Loan To Value |
75 percent |
*Rates are subject to change in line with changes in the Bank of England base rate
| Administration Fee |
€400 / £250 Non-refundable, payable at the start of application. |
| Valuation Fee |
€320 / £200 payable on acceptance of the Bank`s Mortgage offer. |
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Fee for "early re-payment"
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€760 / £500 only when the mortgage is repaid in full within the first three years, this fee is payable. |
| Arrangement Fee |
€960 / £600(Minimum). This fee is due on the date the loan is released 1.5% of the loan. |
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Redemption/Sealing Fee
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€400 / £250.This fee is charged for the legal discharge of the mortgage.
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*(Please note: the fees displayed above are subject to change without notice)
"Application Form"
"PDF Brochure"
| Sample calculation for a repayment mortgage of GBP 90,000 over 15 years with the lender`s current 8.00% standart variable rate. |
| Loan amount(GBP) |
£90,000 |
| Term |
15 years (180 months) |
| Monthly payments (GBP) |
£860,19 |
| Total amount payable(GBP) |
£154,814.40 |
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Redemption/Sealing Fee
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€400 / £250.This fee is charged for the legal discharge of the mortgage.
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Risks
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Your property may be repossessed if you do not keep up repayments on your mortgage. Interest rates may increase.
Please make sure that you can afford the monthly repayments and ensure you can afford your mortgage if your income falls.
The rate of exchange between the pound sterling and the Turkish lira may move adversely.
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"Application Form"
"PDF Brochure"
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