Mortgages for buying a property in North Cyprus are now available from TRNC Mortgage services. Mortgages are provided by a consortium of 4 Turkish Banks.
Available on Pre '74 Turkish and exchange title.
70% Loan to Value (LTV)
5-15 year term
Full status
Affordability on 50% debt to income ratio
Application to offer in one week
Full Details
Purpose of Loan; Purchase for private purposes to finance property of pre 1974 Turkish Title or Eshdeger/exchange UK and Eire citizens only.
Interest Rate; UK Citizens 8.5% Variable, Eire Citizens 7.25% Variable
Currency; Uk Stirling, Eire Euro
Maximum LTV; 70% of the lower of the contract and valuation price
Term; 5 to 15 Years
Loan amount; Minimum £26,000 no maximum
Minimum Age; 25
Maximum Age; 70 on maturity of loan
Repayment method; Capital and Interest
Building Insurance; Mandatory
Arrangement Fee; £395 payable on application
Lenders processing fee; £250 payable on application
Lenders fee; 1.5% of loan added to loan
On offer fee; 1.5% of lain amount, payable at time of offer
Facility Fee;£150 Payable at time of application
Valuation fee; £200 Payable at time of application
Early repayment fee; 2% redemption
Pre-offer (AIP); Can apply for AIP up to 6 months before completion
Debt to Income ratio; 50%
Documentation required
- Copy of Passport
- Copy of latest Utility bill
- Copy of latest Bank statement
- Copy of Title deed of the property
- P60 & Payslips if employed, If self employed 3 years accounts, If retired, last two years pension
- Lawyer to confirm land type
- All Documents MUST be certified by a lawyer
For more information please enquire
