Mortgage

Mortgage is a type of loan offered by banks in return for establishing a lien on the property to be purchased. Once you decide on the house to be purchased, you can apply to the Bank and start your loan process by completing required documents. If the application is approved, the property you wish to buy is valued by appraisers. You can take out mortgage for up to 80% of the property’s appraisal value for 3-120 months. You must have necessary funds for the remaining 20%.

You can get detailed information about Mortgage and fill out an application form by visiting your nearest Alternatif Bank Branch.

All customers residing in Turkey over 18 years of age and with regular income are eligible to apply for a Mortgage.

The maximum term for Mortgage is 120 months.

You can take out a loan for your house up to 80% of the appraisal value estimated by a CMB-BRSA licensed appraisal firm in partnership with our Bank.

Documents required for application include identity card or TR Identity Card, certificate of residence or a copy of bill registered in your name, income certificate and title deed of the property to be mortgaged. Below you may find the documents which will be required depending on your income status:

1. Payroll or income letter for salaried employees

Current payroll, SSI service document or SSI registration number, employer registration number, net monthly pay and income letter including earnings attachment/deduction document and authorised signatory list.

2. For pensioners:

EPensioner ID Card or Monthly Pension Allowance Document/Pension Passbook

3. For sole proprietorships:

The company’s current tax sheet and annual income tax return/current business account statement

4. For partnerships:

The company’s current tax sheet and annual corporate tax return

5. For rental income earners:

The title deed of rental property, rental contract or document of rental collection

Our customers who have taken out a mortgage before 06/03/2007 are exempt from early settlement fee. Early settlement fee is 2% of the outstanding principal amount for the loans whose term to maturity is over 36 months, and 1% of the outstanding principal amount for the loans whose term to maturity is 36 months or shorter.