Mortgage in Turkey. Who can get it?

Ukrainians can easily get a mortgage from a Turkish bank. A mortgage is issued to a foreigner on the same terms as a Turkish citizen. ⠀ Now the popularity of Turkish mortgages has increased among real estate buyers, as the interest rate has decreased. Six months ago, it was still 7%. ⠀ ✅Also one of the main advantages: Turkish banks are not yet very demanding of potential borrowers, so a loan can be obtained with a minimum package of documents and without strict verification. ⠀ 📌We share the case of our client: ⠀ Mortgage in Turkey using the example of Albaraka bank ⠀ 🔹 Property value: €80,000. 🔹 Term: for 10 years. 🔹 Rate: at 4.2% per annum in euros. 🔹 Coverage: 50% of the estimated value of the property. (But the bank makes an assessment below the market.) The market value of the apartment is €80,000, the bank will assess it at €60,000 and give 50% – €30,000. 🏗 When buying an apartment at the construction stage, you can use the interest-free installment plan from the developer. And then, when the residential complex is commissioned, you can get part of the funds with the help of a mortgage loan. The interest-free installment plan from the developer is provided, as a rule, until the end of construction and even longer. ⠀ ⏰ Registration of a mortgage takes about 3-5 business days, you can get it for a period of 7-15 years (with the possibility of early repayment). ⠀ ✔️ An apartment in a mortgage can be rented out or sold (in this case, either re-register the loan to the new owner, or close the loan to remove the encumbrance). ⠀ ❗️❗️❗️ On November 6, we organized a closed online meeting with a Turkish developer who presented a large-scale project on the first line of the sea. Apartments in that residential complex have great potential for growth in value due to their location and the infrastructure of the complex, therefore, while prices are still minimal at the start of construction, you can consider buying in a mix of interest-free installments + mortgage. https://www.youtube.com/watch?v=egf8TGk6zzs