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Buying In NewsNew Turkish mortgage choice20 December 2006 Overseas mortgage advisors Connect Overseas have unveiled a mortgage product for Turkey, becoming the second UK broker to offer buyers financing, after Conti Financial Services’ recent Turkish mortgage launch. The Connect Overseas mortgage has a maximum term of 25 years and loan to value ratio of 80%, with interest rates for the euro and sterling mortgages starting at 6.1% and 7.1% respectively. The maximum loan value is 200,000 euros, but must not exceed 45% of your net income. There is an additional 0.6% added for rental properties “We’re pleased to offer this new product, although it is slightly restrictive with financing limited to purchases in the main resorts at the moment,” says Stephen Marcon, head of the overseas department at Connect Overseas. Marcon went on to reveal plans for the launch of a second, more competitive and less restrictive Turkish mortgage in the New Year. “We are at an advanced stage of negotiations with a major Turkish bank and we hope to unveil this exciting new mortgage in the first quarter of 2007,” reveals Marcon. “As well as having fewer restrictions on where people can buy, it will allow staged payments for off-plan purchases from reputable, established developers.” For organising their current Turkish mortgage, Connect Overseas charge £395 on application and 0.5% of the mortgage amount (minimum £500) on successful completion. For more details contact: Tel 01708 676133, www.connectandprotect.co.uk |
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