Non-Resident Mortgage Features
Foreign Nationals who live abroad and want to buy property in Turkey for living or investment purposes can now take advantage of Garanti Bank's wide range of mortgage products. Garanti Bank offers different options such as TL, USD, EUR and GBP.
After the circular that enables the offering of TL or foreign currency loans to persons who reside abroad was issued in August 2006 and the new mortgage law went into effect in 2007, Garanti Bank started offering mortgages to foreign nationals and persons who reside abroad. Through the same wide range of products offered to domestic customers, Garanti Bank offers fixed and variable interest rate mortgage options in line with the consumers' different risk perceptions, needs and demands.
- Can be taken out in TL or as indexed to foreign currency (USD/EUR/GBP).
- The maximum term for the loan is 240 months.
- The maximum loan amount is TL 500.000 or the foreign currency equivalent.
- The nationals of EU countries, Switzerland and Norway, or persons who reside in these countries can take out a loan up to 65% of the appraisal value of the property to be purchased. For other countries, the loan ratio is 50%.
Required Documents for Application:
- Tax Identity Number
- An appraisal report of the property which will be prepared by the bank during the underwriting process
- Copy of passport or certificate of residency
- Within the scope of the income document; tax document or your bank account statement or credit card/loan statement for the last 3 months
- Certificate from the credit record office of customer's own country
- Photocopy of an invoice that shows the customer's address of residency abroad.
- Clearence document obtained from military authrities in Turkey.