Buyers
Can Foreigners Get a Mortgage in Türkiye?
Which banks lend, how much they finance, and what documents they want. The mortgage registration, valuation and life insurance costs of a financed purchase.
Foreign nationals can take out a mortgage in Türkiye. The terms are tighter than those offered to Turkish citizens, however: a lower proportion is financed, the term is shorter and more documents are required. A mortgage is a possibility, but building your plan around one is risky; if approval does not come, the deposit can be lost.
Typical terms
- The loan-to-value ratio is generally 50%, rising to 60% at some banks. In other words you pay at least half the price up front.
- The term is usually up to 10 years; the 15- and 20-year terms offered to Turkish citizens are rarely opened to foreigners.
- Proof of income is compulsory, and few banks accept income earned abroad.
- Instalments are calculated in Turkish lira; if your income is in foreign currency, the exchange risk is yours.
Do not underestimate the currency risk. Repaying a lira-denominated loan out of foreign-currency income becomes cheaper if the rate moves your way and dearer if it does not. Over a ten-year loan that is not a calculable figure but an uncertainty you have to live with.
Documents required
- Passport and a notarised translation
- Tax identification number
- Proof of income: payslips, evidence of shareholding or a tax return
- Bank statements for the last six months
- A credit report (a credit history from your own country may be accepted)
- A copy of the title deed and the compulsory earthquake insurance policy
The additional costs of a financed purchase
Besides the interest there are four further items, and together they are not trivial: the valuation fee, the mortgage registration duty, life assurance and an arrangement fee. Life assurance is compulsory at most banks for the life of the loan and rises markedly with age.
The valuation is carried out by an institution the bank selects, and the value the bank arrives at may be lower than the price you agreed. If so, the loan is reduced and you must make up the difference in cash — the "if the mortgage is refused" clause in the deposit agreement is written for precisely this possibility.
%2
Title deed fee — buyer's share
5 August 2026 valid as at
46,73 TL
Central Bank foreign exchange selling rate (USD)
5 August 2026 valid as at
The questions we hear most
- Which banks lend to foreigners?
- Most of the large private banks do, but practice varies from branch to branch. Receiving different answers from two branches of the same bank is entirely normal; working with branches experienced in foreign customers shortens the process.
- I have no residence permit. Can I still borrow?
- Some banks will consider an application without one; most require it. A foreigner holding a residence permit has a markedly better chance of approval.
- Can I repay early?
- Yes. On fixed-rate mortgages a commission of up to a set percentage of the outstanding principal may be charged for early repayment; check the rate stated in your agreement.
- Can I sell a mortgaged property?
- The mortgage must be discharged on the sale. In practice the buyer's money is used to repay the loan, and the discharge and the transfer take place on the same day; banks are well used to this.
Where you can verify this
The information on this page is for general guidance and does not constitute legal or financial advice. The legislation may change; consult your accountant or lawyer before acting.