Turkey is currently experiencing a huge boost of mortgage sales thanks to the new mortgage campaign designed to revive the real estate business in the country. What should you definitely pay attention to when buying an apartment in Turkey on a mortgage? The construction and real estate newspaper Emlak Kulisi has published a list of ten recommendations from mortgage experts:
- Decide what you really need and accurately assess your ability to pay.
- Study the interest rates.
- Calculate annual, not monthly, interest.
- Calculate the additional costs that you have to pay during the transaction.
- Assess the costs of obtaining a loan.
- Compare offers from different banks.
- To apply for a loan, visit the bank office, if possible.
- Study the contract (and take a copy of it).
- Remember that you have the right to refuse to get the loan even after its registration - within 9-14 days.
- Check out of you can open an overdraft.