As part of one of the subprojects of the company «My New Home», which will also provide certain benefits to those who want to buy a second home: the loan term will be up to 15 years (180 months), and the program participants will also be offered partial installments. Which will help reduce credit payments.
So far, the details of the program concerning secondary real estate have not been officially announced; however, some unofficial information has already leaked to the press. Thus, it is expected that the monthly interest rate on housing loans under this promotion will be 0.99% in state-owned banks Ziraat Bank, Vakıfbank and Halkbank. The loan amount is up to one million Turkish liras (TL), the estimated monthly payment is no more than 11,000 TL.
Well, a prerequisite for the right to participate in the program will be the absence of their own housing at the time of application. That is, citizens will be supported not so that they get the opportunity to invest in real estate, but so that they can get their own roof over their heads, instead of renting apartments and paying huge sums for rent, which increase regularly.
In addition, up to 100,000 TL can be saved on taxes.
At the moment, those wishing to purchase secondary real estate in Turkey have options that are not related to the state program «My New Home», but they are not suitable for everyone. So, they have the right to take a loan for such a purchase up to 300,000 Turkish liras, no more.
Turks have already been warned that it is not worth trying to falsify documents in order to participate in the preferential program: applications with fake data will be canceled, and those submitting them will be fined.