Off-plan mortgage agreement that signed between us and Türkiye İş Bank
Bank of Turkey became guarantor to brand project Caddemm!
What is off-plan mortgage ?
Off-plan mortgage agreement was signed between Türkiye İş Bank and AKOL Group of Companies for “Caddemm” project. Loan can be used in Turkish Lira or foreign currencies.
Who is eligible for this loan?
While granting this loan is fully in discretion of Türkiye İş Bank Crediting Rules, citizens of all countries may apply.
What are the terms of the off-plan mortgage agreement?
Loan can be used for up to of the property price, and this rate is applicable for Turkish and TRNC citizens, who reside in these countries. Different rates apply for other citizens. This rate changes to %65 for Turkish and TRNC citizens residing in countries other than Turkey and TRNC. For other country citizens, this rate varies between % 50-65. The remaining percentage must be paid to AKOL Group of Companies until the handover date.
What are terms of the loan?
Up to 120 month installments is available. Granting this loan is fully in Türkiye İş Bank’s discretion. Current property prices are simultaneously monitored and known by Türkiye İş Bank experts. AKOL Group of Companies reserve the right to change the property prices at any time. AKOL Group of Companies reserve the right to end this agreement at any time. Title deed fees are , and for first time buyers. Property VAT is 5 of the property value determined by the land registry office.
What are the required documents for loan application?
A copy of Turkish Identity card or passport from the country of citizenship, original payroll statement; bank statement if retired; or statement of income from accounting if self-employed are required. The documents required from the Ministry of the Interior for purchasing an immovable property is as such: criminal record from e-devlet or from the country of citizenship, and a copy of ID or passport. If the person whose name is on the documents will not be present at the time of application, a power of attorney is also required. At the end of these processes, buyer will obtain property ownership and residency permits in the island.
What are other property loan options?
Other than this agreement between AKOL Group of Companies and Türkiye İş Bank, the company have other loan options available. These loans are in foreign currency, and the installments are limited to 48 months. These loans can be used for all projects of AKOL Group, and are not limited to Caddemm project.