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Everyone deserves a home of their own!
With an HSBC Mortgage, you can own the home of your dreams. (HSBC BANK)
For your mortgage sales to overseas buyers, HSBC offers you
the best practices of mortgage loan with a great variety of products and highly
competitive interest rates.
Primary Features
• HSBC Bank
Mortgage is extended for completely constructed houses in either New Turkish
Lira (YTL) or foreign exchange indexed (USD/EUR/GBP).
• The
minimum mortgage amount is YTL 50.000 or its equivalent in fey.
• In case a
valid credit bureau report is submitted 65%; if no report available, 50% of
valuation of property would apply for both YTL and fcy-indexed mortgages.
• The
transaction for the 35% down payment that the customer will make towards the
property, should be through the lending HSBC Branch.
• The
maximum loan amount would be USD 500.000, YTL 750.000 or its fey equivalent.
• HSBC Bank
Mortgage terms are up to 10 years for both YTL and FCY indexed loans
Advantages
• Wide
range of maturity preferences.
• Competitive
pricing.
• Easy
repayments: direct debit
• HSBC Bank
Mortgages provide the advantage of Personal Accident Insurance that makes
credit terms easier and decreases insurance costs.
How to apply
Applications can be made via HSBC Bank Branches or HSBC Bank
Telephone Banking on 4440111 {lines are open for 24 hours) for further
information.
Required Documents
- Application
form
- Proof of
identity and residency (only for resident in Turkey). As a proof of residency,
a copy of the utility bills (water, gas, electricity or land-line telephone)
should be obtained.
- A copy
of the deed for the house to be purchased.
- Income
Statement.
- Tax
identity number.
- Military
Clearance (not required for application, but critical for title-deed
assignment)
Power of attorney would be required for loan extension;
application forms, agreements and all related documentation would be arranged
by proxy.
Evidence of income and employment:
- 3
months' Bank Statements showing the receipt of income
- P60 (the
tax statement showing income and amount of tax paid - for UK citizens)
- List of
all other income
- List of
all fixed or regular outgoings (mortgages/loan repayments etc).
- List of
credit card Balances
Household income would also be taken into consideration in
the affordability calculation. Self-Employed People:
- Credit
Check
- Bank
statements
- List of
Outgoings and Accountant's Certificate confirming the last 3 years' profits and
that the company is currently solvent and trading.
Conditions for Property
- Owner
occupied residences / secondary residences that are fully completed.
- Properties
should be in well-known touristic places or prime locations.
- Commercial
or industrial properties are out of scope.
- Valuation
by fully qualified and reputable independent appraisers
Additional Documentation may be required for developers such
as:
- Shareholding
in company
- Company
accounts
- Company
history
- Building
permissions
- Architects
drawings etc.
More Question About Turkish Mortgage (Is BANK)
Who is eligible to open an account at Isbank
London?
Any individual above the age of 18 or a legal entity
is eligible to open accounts provided they furnish us with the necessary
documents mentioned in our account opening forms.
Can we open a joint account?
Yes. You will
need to complete the account opening form accordingly.
What is the formula for the calculation of deposit interest for
GBP deposits?
(principal amount x number of days in the term
x interest rate) / (100 x 365)
What is the formula
for the calculation of deposit interest for non-GBP
deposits?
(principal amount x number of days in the term x
interest rate) / (100 x 360)
Is it possible to
open deposit accounts in currencies other than pounds
sterling?
Yes. You can open deposit accounts in other
currencies including EUR, USD and TRY. In all these currencies, the number in
the denominator of the interest formula above is applied as 360 and not
365.
I have an account with an Isbank branch in
Turkey. Can I withdraw money from that account in
London?
Yes. When you visit our branch in London, after
obtaining the necessary provisions you can withdraw money from your account in
Turkey.
Can I transfer Turkish Lira to accounts in
Turkey even when I do not have Turkish Lira?
Absolutely. We
will exchange your existing currencies (GBP, EUR, USD) into Turkish Lira and
effect your transfer.
I am a UK resident. Is my
interest income taxed at the time of the interest
payment?
Yes. Banks, generally, quote their gross interest
rates, i.e. rates before any compulsory tax deduction. Soon after gross interest
is posted to your account, the prevailing Basic Tax Rate (currently 20% for UK
residents) is debited.
Can I receive my interest
"gross" if I am eligible?
Yes, but only when you complete the
R85 form of HM
Revenue&Customs.
Can I apply for a not
ordinarily resident saver to receive my interest without tax
deducted?
Yes, but only when you complete the R105 form of HRMC.
Is there a protection scheme for depositors in the
UK?
Yes. The Financial Services Compensation Scheme, UK's
statutory fund of last resort for customers of authorised financial services
firms, provides a protection of 100% for the initial £2000 and 90% for the
following £ 33,000. In other words, out of a total deposit of £ 35,000 held with
a single financial institution, £ 31,700 is protected by the scheme.
Buying a house in Turkey as a foreigner
Turkey has a reciprocal agreement for the purchase of land and property with
many countries. This means that the people of these nations that allow Turks to
buy land in their countries, can in return, buy land in Turkey. Foreigners may
purchase in their own name if the property is outside military zones. Based on
these agreements foreigners of the following countries are eligible. England,
Germany, Australia, Austria, Belgium, France, Holland, Ireland, Spain, Italy,
Canada, Luxemburg, Norway, Greece as well as some African and South American
states. The full list is available in our branches or click here.
No matter where the land or the
house may be situated if the buyer is a foreign person, the deed office has to
officially ask the prior approval or permission of the highest military command
of the area before transferring the title (Approval of the ministry of Defense:
Savunma Bakanliği). The duration of the request for permission is estimated on
30-60 days. The reasons for this are to ensure that foreign buyers will not
acquire a property within military zones. No land or property within forbidden
regions and safety regions can be sold, transferred or rented. (Forbidden
regions - Military zones).
More and more foreigners are interested in
buying property in Turkey. In 2006 around 50,000 purchases from foreigners have
been taking place. More and more foreigners are looking for financing their new
property at a local bank.
Foreigners, with different behavior/features, require a different application
approach. Therefore DenizBank has developed mortgage loans specially for
foreigners
How to get a Mortgage from DenizBank?
- Please bring all the required information to the nearest branch of your new
house. Together with the branch you will discuss all the conditions and benefits
of the loan
- After your approval we will complete the application form and start the
application procedure
- The bank will send a appraiser to you house to value your property
- Maximum 5 working days later the branch will inform you about the offering
that we can do to you
- You will be handed out the pre term sheet that you can use as our written
promise to you
- After presenting the pre term sheet to you, you are asked to sign the pre
term sheet and pay the commitment fee
- After signing a period of maximum four months starts to arrange:
- * DASK: (nature disaster insurance)
- * House insurance; İskan Ruhsati (house permission)
- * Approval of the ministry of Defense (Savunma Bakanliği)
- * Tax number and opening a demand deposit account
- After collection of all the documents mentioned above the bank will give its
final approval will make an appointment to pay out the loan and put the mortgage
on the title deed at the Tapu office
Off Plan Mortgages
DenizBank makes deals with project developers to finance uncompleted houses
in a project. Sometimes DenizBank gives loans before completion of the house or
gives you upfront the commitment that DenizBank will pay out a loan after
completion at upfront agreed conditions. Go to you nearest branch to ask for our
current joint promotion with develops and ask for the special conditions.
The features of the loan
| Issue |
Feature |
 |
|
| Loan to value |
Maximum 65% of the appraisal value (not always
equal to the sales price) |
| Debt to income |
Maximum net salary to spend to installment for total loan position
50% |
| Valuation of income |
Only salary income transferred to a bank account, average
profit of the last 2 years, pension income |
| Maximum amount |
No maximum |
| Minimum amount |
€ 30.000 euro |
| Nationalities |
All countries that have a reciprocal agreement with Turkey. Click here for the full list
|
| Maturity |
5,10,15 and 20 years |
| Loan in YTL |
Yes |
| Loan in euro |
Yes |
| Loan in Dollars |
Yes |
| Loan in British pound |
Yes |
| Interest types |
Fixed |
| Early repayment |
Possible (2% penalty fee) |
| Property valuation |
Done by DenizBank or appointed appraisal by Denizbank, pre-valuation paid by
DenizBank |
| Age of application |
25 -70 years |
| Maximum age at end of maturity |
70 years |
| DASK: nature disaster insurance, House
insurance; |
To arrange via DenizBank, |
| Life insurance |
No obligation |
| Off plan mortgage |
Yes, with full bank guarantee from constructor for the total
loan amount |
| Monthly installment payments |
Automatic payment from a DenizBank account |
| Validity of the pre offer |
4 months |
| Extension of validity of the pre offer (except interest rate) |
Until 18 months (1% extra commission required) |
Requested documentation for your mortgage application
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Employed |
Self
employed
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Retired
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Official tax statement of the most recent year in the home country
(for example P60)
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Copy of the Tapu of the object that will be bought (“Kat mulkiyet
tapusu” or “Kat irtifak tapusu + yapi kullanim izin belgesi”)
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Copies of passports made and signed by the branch or
notary
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Income statement of employers signed by the employer
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Official document/declaration from a public notary/cadastre that
the person who signed the income statement is allowed to sign
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Bank statements declaring the income (not older than 3
months)
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Annual report of the holding company for the last two years
together with a copy from the shareholder register
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Documents proving monthly financial obligations (rent, house loan
installments, alimentation)
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Overview of private assets proven by official statements
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Overview of private debts proven by official statements
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Signed application form
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* Official translation of all documents into Turkish is required
(the branch is happy to assist on this).
Countries which have full reciprocity with Turkey in terms of real estate
acquisition
Countries which have full reciprocity with Turkey in terms of real estate
acquisition
1. ANDORRA
2. ARGENTINA
3.
AUSTRALIA
4. AUSTRIA
5. BAHAMAS
6. BAHRAIN
7. BANGLADESH
8.
BARBADOS
8. BELGIUM
9. BELIZE
10. BENIN
11. BOLIVIA
12.
BOSNIA-HERZEGOVINA
13. BOSTWANA
14. BRAZIL
15. CAMEROON
16.
CANADA
17. CAPE-VERDE
18. CENTRAL AFRICAN REPUBLIC
19. CHILE
20.
COLOMBIA
21. COSTA RICA
22. COTE D'IVOIRE
23. CROATIA
24.
DENMARK
25. ECUADOR
26. EL SALVADOR
27. ENGLAND
28. ESTONIA
29.
FINLAND |
30. FRANCE
31. GABON
32. GERMANY
33.
GHANA
34. GUINEA
35. GRENADA
36. GUATEMALA
37. GUYANA
38.
HAITI
39. HONDURAS
40. HUNGARY
41. IRELAND
42. ISRAEL
43.
ITALY
44. JAMAICA
45. JAPAN
46. KOREA,SOUTH
47. LATVIA
48.
LIECHTENSTEIN
49. LITHUANIA
50. LUXEMBOURG
51. MALAWI
52.
MALAYSIA
53. MALI
54. MALTA
55. MAURITANIA
56. MAURITIUS
57.
MEXICO
58. MONACO
59. MOZAMBIQUE
60. NETHERLANDS
61. NEW
ZEALAND |
62. NICARAGUA
63. NIGERIA
64. NORWAY
65.
PANAMA
66. PARAGUAY
67. PERU
68. PHILIPPINES
69. POLAND
70.
PORTUGAL
71. SAN MARINO
72. SENEGAL
73. SINGAPORE
74. SOMALIA
75.
SOUTH AFRICAN REPUBLIC
76. SRI LANKA
77. SPAIN
78. SWAZILAND
79.
SWEDEN
81. SWITZERLAND
82. TANZANIA
83. THE REPUBLIC OF DOMINIC
84.
TURKISH REPUBLIC OF NORTHERN CYPRUS
85. UNITED STATES OF AMERICA
86.
URUGUAY
87. VENEZUELA
88. YUGOSLAVIA(SERBIA-MONTENEGRO) |
Loan Rates
| MATURITY |
RATES |
| EURO |
USD |
GBP |
YTL |
|
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| 3 |
0,58% |
0,62% |
0,65% |
1,31% |
| 6 |
0,58% |
0,62% |
0,65% |
1,31% |
| 9 |
0,58% |
0,62% |
0,65% |
1,31% |
| 12 |
0,58% |
0,62% |
0,65% |
1,31% |
| 18 |
0,58% |
0,62% |
0,65% |
1,31% |
| 24 |
0,58% |
0,62% |
0,65% |
1,31% |
| 36 |
0,58% |
0,62% |
0,65% |
1,31% |
| 48 |
0,58% |
0,62% |
0,65% |
1,31% |
| 60 |
0,58% |
0,62% |
0,65% |
1,31% |
| 72 |
0,58% |
0,62% |
0,65% |
1,31% |
| 84 |
0,58% |
0,62% |
0,65% |
1,31% |
| 96 |
0,58% |
0,62% |
0,65% |
1,31% |
| 108 |
0,58% |
0,62% |
0,65% |
1,31% |
| 120 |
0,58% |
0,62% |
0,65% |
1,31% |
| 180 |
0,58% |
0,65% |
0,65% |
1,31% |
| 240 |
0,58% |
0,65% |
0,65% |
1,31% |
Our Turkish Properties on sale
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