Housing Finance

Own your dream home as easily as paying rent!

Albaraka Türk Housing Finance is for you as easily as paying rent with the long-term payment options special for you!

Features

• The house you wish to buy can be paid up to 120 months in accordance with the principles of participation banking.
• You can make your repayments in different amounts every month in equal monthly installments.
• You can use housing finance by submitting flat ownership or construction servitude deed.
• You can be exempted from the Resource Utilization Support Fund (RUSF) and Banking and Insurance Transaction Tax (BITT) in the case of using mortgage financing.
• Appraisal process is carried out by Capital Markets Board (CMB) licensed companies that Albaraka Turk has an agreement.

Under the legal framework, the amount that can be financed in housing operations varies depending on the appraisal value, housing condition and the energy class.

Based on Appraisal Value in New Housing Purchases

• For housing worth TRY 2 million or less; financing can be provided up to 90% for Class A housing, 85% for Class B housing and 80% for other energy classes according to energy class.
• For housing above TRY 2 million and at TRY 5 million and below; financing can be provided up to 70% for Class A housing, 65% for Class B housing, and up to 60% for other energy classes.
• For housings above TRY 5 million and at TRY 10 million and below; a maximum of TRY 3.5 million for Class A housing, a maximum of TRY 3.25 million for Class B housing, and a maximum of TRY 3 million for other energy classes.
• For housing worth over TRY 10 million, financing is not available.

Based on Appraisal Value in Second-Hand Housing Purchases

• For housing worth TRY 500 thousand or less; financing up to 90% for Class A housing, 90% for Class B housing, and up to 90% for other energy classes, depending on the energy class.
• For housing above TRY 500 thousand and at TRY 2 million and below; financing up to 70% for Class A housing, 65% for Class B housing, and up to 60% for other energy classes, depending on the energy class.
• For housing above TRY 2 million and at TRY 5 million and below; financing up to 50% for Class A housing, up to 45% for Class B housing, and up to 40% for other energy classes, depending on the energy class.
• For housings above TRY 5 million and at TRY 10 million and below; a maximum of TRY 2.5 million for Class A housing, a maximum of TRY 2.25 million for Class B housing, and a maximum of TRY 2 million for other energy classes.
• For housing worth over TRY 10 million, financing is not available.
   

Application Form

• If you are 18 years old and over, you can apply for mortgage financing.
• If you want to take advantage of housing finance as a real person; you must provide the copy of the real estate deed to be bought, identity card, income certificate, payroll or a document showing your net salary certified by your company.
• If you want to take advantage of housing finance as a self-employed person; you must provide tax certificate, approved balance sheet and income statement, trial balance for the current year, operating certificate, copies of the real estate deeds if any, rental contracts, income certificate and statement of signature, and you must also provide the same documents for the guarantors if necessary.
• If you want to take advantage of housing financing as a legal person; you must provide the copy of real estate deed to be bought, identity cards of shareholders, notary certified list of authorised signatures, the Trade Registry Gazette example, Chamber of Commerce registration certificate, operating certificate, balance sheets and income statements of the last three years and tax certificate copy issued in the last three years, and you must also provide the same documents for the guarantors if necessary.
• You can visit the nearest Albaraka Turk branch with the required documents, fill out the application form and take the first step to your new home.
• If you do not have any missing information or documents, you can learn the result of your application within 24 hours on average.
• You can apply for the appraisal if your preliminary evaluation result is positive and you can find out the amount of financing you can get for the house you wish to buy.
• For more information and other banking transactions you can call Alo Albaraka at 0850 222 5 666 or 444 5 666.