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26th June 2006, 21:49
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#1
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New Member
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Mortgage???
Hi,
I am considering buying a property in Alanya hopefully, if not there, Kusadasi.
I have been told that I can't get a mortgage over here, and that I would apply for a mortgage through a Turkish bank, does anyone have any experience of this?
If so, I'd appreciate some info or hints!! I can't seem to find any info on this end of tings, but maybe I need to refine my search a bit more.
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26th June 2006, 23:24
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#2
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Member
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Re: Mortgage???
You could always remortgage in this country you do not have to tell the mortgage comapny the real reason you want the money! But ive heard a few stories that Turkish mortgages are about to start. Send a PM to Mushtaq I'm sure he will know more. be sure of one thing though once Turkish mortgages are introduced to foreigners prices will rocket!
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26th June 2006, 23:28
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#3
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Moderator
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Re: Mortgage???
Welcome back Nady
I got a remortgage with Nationwide
they were very good, but are you
able to do this.
Andy
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27th June 2006, 08:30
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#4
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New Member
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Re: Mortgage???
ThAnks guys, hi Andy, well over here iin Ireland I've been told I can't get a mortgage for overseas properties here, and that I'd be looking at taking out a rather large loan instead of an actual motrgage. It's my first attempt at buying property, it's juat an investment really. Am talking to a few different property companies at the moment but just wanted a few more personal views!
Am crossing my fingers that it comes together soon!!!
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30th June 2006, 21:20
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#5
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Re: Mortgage???
Nady
what they are saying about the mortgage is you get one on your UK property and use the money to buy abroad
A lot of people find that they have more equity in their house and can increase their mortgage, thus releasing funds for other purposes.
In the UK the top two reasons are house abroad and college fees (for offspring)
Thurstan
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30th June 2006, 21:32
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#6
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Big Griller
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Re: Mortgage???
As far as I know you can't get a mortgage in Turkey unless you are a citizen. ( NOTE Citizen, NOT just Resident )
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1st July 2006, 10:03
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#7
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Re: Mortgage???
also, its probably cheaper to get a mortgage over here anyway
Thurstan
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1st July 2006, 10:55
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#8
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Member
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Re: Mortgage???
Hi Nady,
We had no difficulty getting a second mortgage from Bank of Ireland based on the fact there was sufficient equity in our home here in Ireland. It was just a question of how much did we want.
We had to have a valuation of our home in Ireland done and then when we agreed the purchase of the house in Bodrum the needed a copy of the contract.
Mary
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1st July 2006, 11:15
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#9
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Non Active Member
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Re: Mortgage???
maybe i am reading this topic differently to others, In Nadys 2nd post I am sure it reads that she does not have a property in Ireland and this will be the first property purchase, if this is the case then this is also where the problem lies in them trying to get money to purchase abroad.
Nady,is this correct?
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