Financing
your villa purchase in Turkey must be a priority when deciding to
buy a property for sale. Many people have equity tied up in their
own home which can be used for a deposit. Whether you are paying
for your apartment or villa in cash or taking out a mortgage we
can advise you on the pros and cons of the various options. You
will need to consider questions like:
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Can I get a mortgage for property in Turkey?
(yes- up to 60% of the value) |
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What are the Capital Gains Tax implications? |
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What are completion costs and how much
are they likely to be? |
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Will the income from letting my villa pay for the mortgage? |
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Will I need to open a bank account in Turkey? |
We will guide you through all stages of organising your mortgage and
finance.
'I haven't got much money in my bank account for a deposit'
Not many people do - but what you can do is to look for other ways
to raise the money, a very common practice in this age of multiple
home ownership. One common method is to release capital tied up
in your own house, which may well have appreciated since you first
took out your mortgage. By increasing the mortgage on your own house
you can release the capital needed for the deposit on a second home.
Another option is to buy the villa with another friend or family,
sharing the cost of the deposit. the benefit of this is that you
have someone else to bounce ideas off, and to shar responsibility
for bookings. Whichever method you choose, it is important that
you don't overstretch yourself financially and consider the process
carefully. Many people can make it happen with a little imagination.
If you have questions about financing property purchase in
Turkey contact us and we can give you good advice.
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