Mortgage

Discover the opportunities of Yapı Kredi Mortgage!

Meet with Yapı Kredi Mortgage, move to your own house!

If you are looking for a house in Turkey, We as Yapı Kredi make it possible.

Turkey is a becoming an increasingly holiday destination with its all year round sunshine Mediterranean climate particularly along the southern and western coasts. It is also attractive buying property in Turkey because of the potential returns on investment.

Founded in 1944 as Turkey’s First privately-owned bank with a nationwide presence, Yapı Kredi has always played an important role in the development of the domestic economy and set standards in the Turkish banking sector with innovative products and services.

Yapı Kredi with an expertise at Mortgages will assist you by providing information with this guide.

Buying a house in Turkey as a foreigner:

Foreigners can own land and houses in Turkey. The people of the nations that allow Turks to buy land in their countries, can in return, buy land in Turkey. The reciprocity list is available in our branches.

Non-Turkish citizens need permission from the military authorities before buying a property. Land Registry office (known as “TAPU” in Turkish) will ask the prior approval or permission of the highest military command of the area before transferring the title. This is a standard procedure for all foreign purchases in Turkey to ensure that the land on which your property is built is not in a military, strategic or security zone. It is important to note that this search period can take nearly 3 months. In Turkey you are not obliged to employ a notary for title transfer.

As a buyer, it will help you to use following check-list:

• Does the seller actually own the property? Current legal status of the property can be checked at the title deed office.
• Make sure there is not any outstanding mortgages and/ or pledges on the property.
• Check the building permit.
• If the purchase agreement is drawn up by a notary, it helps to resolve problems in the event of a dispute.
• Check whether there is any “İskan ruhsatı” or a “Yapı Kullanım İzni”.
• Find out local taxes and service costs.
• You may wish to provide a power of attorney if you seek advice from a solicitor who has experience on Turkish Property Law and can give legal advice.
• At the transfer and registration process, the local civil employee of the Office of Land registry may ask that you employ a translator to ensure that you understand all the details.

How to apply for a Mortgage?

You can fill the application form here ( Turkish / Russian / English )and mail, fax, e-mail or personally deliver to the selected branches listed below:

Please deliver the following required documents with your application form:

• Title deed for condominium ownership or for right of easement on individual section, of the house to be purchased
• Photocopy of passport or residence permit, (containing domicile address of the relevant person abroad)
• Official tax declaration regarding the previous year, to be taken from the country where the client resides
• Latest quarterly pay roll signed by the employer abroad (for working persons) or retirement letter (for retired persons)
• Bank account book which contains the transactions in the relevant account in the latest 6 months period or credit card/credit account statement (approved by the bank)
• Reference letter for employees (approved by employer firm abroad)
• Official document certifying personal assets
• Credit Registration Bureau (CRB) Record from the country where the client resides
• Copy of an invoice (water, electricity, etc.) proving the address of client in the country where he/she resides

How to get a Mortgage?

• After the delivery of application form and other documents the application procedure will start.
• If your application is pre approved, we will request you to transfer appraisal fee to the account of Yapi Kredi for the survey of the property.
• Following the report result we will re-assess your application on the basis of the survey and if approved prepare an offer.
• You are asked to sign proposal within 3 weeks.
• After signing the proposal, within a period of 3 months you need to obtain the following documents:
  • Approval of the Ministry of Defence (Savunma Bakanligi)
  • DASK (Nature Disaster Insurance)
  • House Insurance
  • Life Insurance
  • Set a date on which all parties will be present at the “Tapu” for the property transfer and mortgage on the title deed
• The Customer Relationship Manager at branch will request the signing of the Home Financing Pre-Agreement Information Form, as well as the Home Financing (Mortgage) Agreement and the Payment Plan.
• The title deeds will be signed at the Land Registry Office and the mortgage deed will be issued to Yapi Kredi Bank.

How to pay a Mortgage?

• You open an account at Yapı Kredi Bank in your own name. All you need to do is to get a tax number, and then submit it with a copy of your passaport to the Yapı Kredi branch. If you don’t have a tax number Yapı Kredi Bank can help you to get one.
• You can transfer the money from your account at your home country by simply filling out a transfer form via giving the name, address, branch code and IBAN (International Bank Account Number) of your Turkish Bank account.
• For money transferring, Yapı Kredi Bank offers Expatriate Banking, which provides full foreign currency and Turkish Lira services including deposits, and savings accounts, credit cards, overdraft facility and debit cards.
• You can do your banking transactions in English via our online banking and 444 0 444 / 0850 222 0 444.