North Cyprus Mortgages The information you need to purchase with ease.
We are now offering mortgages on ALL our properties!
Until recently it has not been possible for British citizens to obtain a mortgage on property in Northern Cyprus. We are now able to help arrange mortgages in Northern Cyprus for any completed or off-plan property in conjunction with WB Finance and Garanti Bank.
Here are the key terms and features of the mortgages.
Amount of loan: Minimum - £10,000 GBP (Ten Thousand Pounds Sterling) Maximum - No Limit.
Percentage of Loan: WB Finance - Maximum 50% of the purchase price. (Available for all our properties, Completed or Off-Plan) Garanti Bank - Maximum 70% of the purchase price. (Available for completed Turkish Title properties)
A mortgage offer will be made and money can be drawn after the borrower has paid their share and the controlling architect or civil engineer confirms that at least 50% of the construction has been completed. (Applies to WB Finance only)
Term: WB Finance - Minimum - 5 years / Maximum - 10 years. Garanti Bank - Minimum - 5 Years / Maximum - 20 years.
Interest rates: WB Finance - 8% Garanti Bank - Normal bank rates apply at time of application
Additional Fees: £50.00 GBP - non refundable administration fee is payable with the application. £200.00 GBP - Solicitor fees for preparing and registering the charge. 0.5% Valuation fee (£250.00 GBP minimum charge)
Capital & interest repayment method Arrangement, early settlement and lenders fees apply