So, you’ve decided to buy property in Turkey and are now considering your financing options. Purchasing a property is a large decision and you must have all the necessary information to make an informed choice.
Before 2007, foreign citizens could not take a mortgage from banks in Turkey. But since that’s changed, you have more options for loans now.
So, what are the top banks for loans for foreigners?
1. DenizBank
DenizBank is a highly experienced bank that offers mortgages for foreigners. They offer competitive pricing, up to 15-year mortgages, and close workings with Turkish real estate agencies.
2. Yapi Kredi
Yapi Kredi is one of the largest publicly-owned banks in Turkey. They offer full foreign currency service as well as in Lira. You can also do
3. Garanti BBVA
Garanti offers a lot of different mortgage options in a variety of plans tailored to your needs. It also has a long history of successful and satisfied customers.
4. Isbank
If you are in the UK, Isbank is a well-known and reliable bank for mortgages. They’re also the largest private bank in turkey.
5. AkBank
Akbank offers fixed-interest rates that are not affected by changing market rates. It’s also one of Turkey’s largest, and most recognizable banks. A good place to apply for a mortgage.
Several banks offer mortgages in Turkey for those not interested in banks from their home countries. Keep in mind that Turkey doesn’t offer 25-year mortgages like some countries, but is instead limited to around 15-year mortgages.
It’s always recommended that you get your mortgage pre-approved early in your property hunting journey. Once you know your budget and have everything in place, you can get to the fun part. Get started looking for your dream home!
