Can a Foreigner Have a Mortgage in Turkey ?

Yes, foreigners can have a mortgage in Turkey. In fact, Turkey has made it easier for foreigners to purchase property in the country in recent years.

Foreigners can apply for a mortgage in Turkey either from Turkish banks or from banks in their home countries that have operations in Turkey. However, the requirements and processes for obtaining a mortgage in Turkey may vary depending on the bank and the applicant's country of origin.

Foreigners who want to buy property in Turkey and apply for a mortgage must also obtain a residence permit. This permit is required to be able to purchase property in Turkey and to apply for a mortgage.

It is important to note that foreigners should carefully research and understand the legal and financial implications of owning property in Turkey before making a purchase and obtaining a mortgage. It may be helpful to consult with a real estate professional or a lawyer familiar with Turkish property laws to ensure a smooth and successful transaction.

Here is several Turkish banks offer mortgages to foreigners, including:

Akbank: Offers mortgages for up to 10 years for foreigners, subject to credit approval and other eligibility criteria.

Garanti BBVA: Offers mortgages for up to 15 years for foreigners, subject to credit approval and other eligibility criteria.

Yapi Kredi: Offers mortgages for up to 10 years for foreigners, subject to credit approval and other eligibility criteria.

HSBC Turkey: Offers mortgages for up to 10 years for foreigners, subject to credit approval and other eligibility criteria.

İşbank: Offers mortgages for up to 10 years for foreigners, subject to credit approval and other eligibility criteria.

It is important to note that each bank may have different requirements and eligibility criteria for foreign mortgage applicants. It is recommended to research each bank's offerings and consult with a financial advisor or mortgage specialist to find the best option for your specific situation.