Can Foreign Nationals Take Out a Loan in Turkey?

Taking a loan in Turkey procedures are also valid for foreign nationals. Of course, there are some official documents that foreign nationals must submit when requesting a loan. If all criteria are met, and there are no problems, it will be possible to give consumer loans to foreign nationals. In addition, foreign nationals can also apply for vehicle and house loans if they request them.

What Do You Need to Know About Home Loans for Foreigners?

Loans in Turkey for foreigners also include foreign nationals who want to buy a house. There is a requirement to show someone who is a citizen of the Republic of Turkey as a guarantor for a house loan. In addition, those who apply for a loan must declare the title deed of the house and all other official documents related to the house to the bank. These documents should also include electricity and water bills for the house. As a result of the examinations to be made by the bank, a house loan can be given to the person.

What Are the Documents Required for Foreigners to get a Mortgage Loan?

Some official documents are requested from foreign nationals who apply to the bank to get a home loan. Documents that need to be declared in order to get a house loan are as follows:

• Residence permit document
• Work permit document
• Photocopy of passport
• Four biometric photos
• Financial guarantee document
• The title deed of the house to be purchased
• Identity information of the guarantor, who is a citizen of the Republic of Turkey
• Income document of a foreign national who wants to get a home loan

The documents, as mentioned earlier, must be submitted in full. Otherwise, the home loan application will be deemed invalid.

Which Banks Give Loans to Foreign Nationals in Turkey?

There are significant banks that implement taking a loan in Turkey procedures. The banks that provide services following the taking a loan in Turkey procedure are as follows:

• VakifBank
• Ziraat Bank
• Is Bank
• QNB Finansbank
• HSBC
• Akbank
• Halkbank

Foreign nationals can apply to these banks that implement the procedures of taking a loan in Turkey. Some of the banks mentioned above are state-supported banks, while others are private banks.

Mortgage Loan Calculation and Interest Rates in Turkish Banks

Banks applying for the taking a loan in Turkey have different calculation criteria. Some banks provide low-interest loans, while others may have higher interest rates. When evaluating the options of taking a loan in Turkey, it is helpful to get expert support. You can choose the loan that best fits your budget by getting consultancy support for a mortgage loan.

The interest rates of state banks, which are among the leading banks in Turkey, are lower. Some private banks can also provide loans at lower interest rates than their competitors. People applying for a home loan are also required to show financial collateral. Banks will prefer to give house loans following the person's financial situation.

Is it possible to invest with a loan in Turkey?

Almost all large investments are financed with loans. With a more limited budget, fixed investments such as house, car, workplace can be made. You can visit our Lycian Realty website to see the houses and projects that can be invested in the Aegean region.