Getting a mortgage in Turkey as a foreigner: UK guide

The contents of this article is for informational purposes only and does not constitute legal or tax advice. Decisions related to tax should be made after thorough research, consultation and verification from a qualified financial and legal advisor.

Buying a holiday home in Turkey? Perhaps it's an investment or rental property, or maybe you’re moving to the country permanently from the UK.

Whatever your plans, one of the first things you’ll need to get sorted is your financing.

We’re here to help, with the complete guide to mortgages in Turkey for foreigners. This includes info for UK expats and non-residents on the types of mortgages available, interest rates, fees, eligibility requirements and how to apply.

And if you’re looking for ways to save money on currency exchange when sending a down payment or mortgage fees to Turkey, check out the money services provider Wise.

You can send large transfers with Wise for low fees* and mid-market exchange rates - making it ideal if you’re sending a secure international transfer.

In this article:

Can you get a mortgage in Turkey as a non-resident? Getting a mortgage in Turkey from the UK after Brexit Mortgage eligibility criteria for UK citizens in Turkey Is it easy to get a mortgage in Turkey? Step by step guide on how to apply for an Turkish mortgage as a foreigner Which documents do you need as a non-resident? How long does it take to get a mortgage in Turkey? Fees and costs for getting a mortgage in Turkey Valuation fees Mortgage registration fees Stamp duty on mortgage contracts Bank application/processing fees Other fees and costs Turkish banks or lenders offering mortgages to foreigners Mortgage rates in Turkey Can you get a UK mortgage to buy property in Turkey? Do banks offer Buy-to-Let (BTL) mortgages in Turkey? Refinancing a mortgage in Turkey Types of mortgages in Turkey Fixed rate mortgages Variable rate mortgages Final tips for getting a mortgage in Turkey as a non-resident Manage your overseas property costs with Wise FAQs Do I need a Turkish bank account to buy a house in Turkey? Can you get a 100% mortgage in Turkey? What’s the age limit for mortgages in Turkey?

Can you get a mortgage in Turkey as a non-resident?

Yes, some Turkish banks and other mortgage providers lend to international buyers as well as residents.

So, it should be possible to get a local mortgage so you can buy your Turkish property, even if you’re not living there.

However, you may face some additional requirements and restrictions as a non-resident buyer, along with extra paperwork. You may also be offered different rates and terms compared to Turkish citizens.

Here are the key things you need to know:¹

• You’ll need a Turkish tax number (Vergi Kimlik Numarası)in order to apply for a mortgage - this is needed for most major financial transactions in Turkey, including opening a bank account
• You may only be able to borrow up to 70% of the property’s value - this may be lower than what you’re used to in the UK
• You may have to use a specialist broker to find and apply for a suitable mortgage, as non-resident mortgages in Turkey aren’t always widely advertised and it isn’t always possible to apply online.

Ultimately, it all depends on the individual lender and their eligibility criteria and processes. You may need to contact a few banks and lenders for more information.

Getting a mortgage in Turkey from the UK after Brexit

The UK leaving the EU has had no effect on the process of getting a mortgage in Turkey as a British citizen.

When it comes to lenders, you should be treated the same as any other foreign national.

Although unfortunately, this may mean more paperwork, stricter requirements and less favourable rates compared to Turkish locals.

Mortgage eligibility criteria for UK citizens in Turkey

The eligibility criteria for mortgage applications will vary between lenders.

You’ll usually need to meet the following requirements:²

• You have the required funds to afford the deposit, which could be around 30% or perhaps higher
• You mustn’t be over 70 years old at the end of the mortgage term
• You have a Turkish bank account with which to make mortgage repayments
• You have a Turkish tax number (Vergi Kimlik Numarası)
• You have a steady income and your debt-to-income ratio (the amount of outgoings as a percentage of your income, including mortgage repayments) is no more than 33% to 60%.
• You have a clean credit score - if you don’t have a credit history in Turkey, an international credit report may be used instead.

Is it easy to get a mortgage in Turkey?

Even if you meet the eligibility criteria, you may find getting a mortgage in Turkey to be a complicated and time-consuming process involving plenty of paperwork.

Like in other countries, the approval process for mortgages in Turkey is heavily focused on affordability and financial risk. There are strict rules and conditions to meet, and you’ll need to provide accurate and extensive details about your income, earnings, outgoings and assets.

There are some additional challenges that can make it more difficult.

For starters, you may struggle if you’re not a fluent Turkish speaker. It could be sensible to enlist the services of an English-speaking broker, translator or Turkish-speaking friend. And if your documents are in another language, they might need to be translated and certified.

You may also face complications if you have a poor credit history or too many debts.

Step by step guide on how to apply for an Turkish mortgage as a foreigner

To give you an idea of what to expect, here’s how to get a mortgage in Turkey, step-by-step:

1. Get a Turkish tax number (Vergi Kimlik Numarası). This code is needed for all financial transactions in Turkey. You can get one by applying online at the webpage of the Interactive Tax Office at İnteraktif Vergi Dairesi* *or in-person at a local tax office (Vergi Dairesi) in Turkey. You’ll need your passport and proof of address.²
2. Find a mortgage. It’s recommended to use a specialist broker to find and apply for a suitable mortgage, but you can also apply directly with a bank or lender. At this stage, you’re aiming to get an agreement in principle.
3. Open a Turkish bank account. You’ll need your Turkish tax code in order to do this.
4. Start your property search. Once you’ve had an offer accepted, you’ll sign the preliminary agreement and pay a deposit.
5. Gather your documentation, making sure everything is translated into Turkish and notarised if needed.
6. Submit your mortgage application with the bank or lender.
7. The lender is likely to carry out a valuation or appraisal on the property - a fee may apply for this.
8. The lender will issue you with a mortgage offer. Read the details, terms and conditions carefully before accepting.
9. Make arrangements for transferring funds, so you can pay any mortgage application fees.
10. Sign the mortgage agreement.

Which documents do you need as a non-resident?

The exact documents you’ll need to apply for a mortgage in Turkey will vary between lenders.

But here’s an idea of what you’re likely to need:³

• Your completed mortgage application form
• Original and copies of your UK passport, drivers licence or other national ID card
• Proof of address, such as recent utility bills
• Your Turkish tax code
• Your Turkish residence permit, if applicable
• Proof of income - such as recent payslips, employment contracts, employer-certified income documents and/or tax returns. If you’re self-employed, you’ll need financial statements, audited accounts and/or tax returns.
• Recent bank statements
• The title deed or purchase contract for the property you’re buying

Remember that all of your documents will need to be translated and notarised.

How long does it take to get a mortgage in Turkey?

On average, it takes around 2-4 weeks to get approved for a mortgage in Turkey.⁴ However, it all depends on the efficiency of the bank and its processes, and whether you’ve provided all the right documents and details.

It’s crucial to make sure all your paperwork is in order before starting the process, to help you avoid any delays.

Fees and costs for getting a mortgage in Turkey

Applying for a mortgage in Turkey usually involves some fees.

The main ones to know about are valuation fees, mortgage registration fees, bank application fees and bank application/processing fees. If you use a broker, they will also charge a fee.

Valuation fees

An appraisal/valuation is required by law in Turkish property sales, and unfortunately it’s the buyer who needs to cover the fee.

You can expect to pay 2,000 to 5,000 TRY⁴ for a survey, but it depends on the location and property type.

It’s important to note that this valuation survey usually only looks at the value of the property, and won’t identify any structural, maintenance or other issues. You’ll need to commission your own building survey for that.

Mortgage registration fees

This is the main fee paid to the Land Registry office when registering the mortgage. It’s typically between 0.5% and 1% of the total loan amount.⁴

Stamp duty on mortgage contracts

Mortgage contracts in Turkey have stamp duty attached, which is currently set at a rate of 0.948% of the declared contract value.⁴

Bank application/processing fees

Similar to arrangement fees in the UK, the bank may charge admin fees for processing your mortgage application. These vary by lender, but are generally around 0.5% to 2% of the total loan amount.⁴

Other fees and costs

You may also encounter some of these other costs when applying for a mortgage in Turkey:

• Broker fees (if you’re using a broker) - these costs vary by provider, so you’ll need to get quotes.
• Notary fees - if you need to get UK or other foreign documents translated into Turkish and certified
• Transfer fees - if you need to make payments between countries to pay the down payment or the fees above, you may incur fees.

Turkish banks or lenders offering mortgages to foreigners

If you have your Turkish tax number, you should be able to apply for a mortgage from most of the country’s major banks, including international banks.

This includes:

• Denizbank
• İşbank
• Garanti Bank
• Akbank
• HSBC.

Not all will offer non-resident mortgages in Turkey though, so you may need to shop around if you haven’t yet moved to the country.

Mortgage rates in Turkey

Mortgage rates in Turkey are much, much higher than you’re used to in the UK, which could make borrowing too expensive for many people.

As of September 2025, the average mortgage interest rate in Turkey is 43.2%.²

However, rates vary considerably by lender and product type. The rate you’re offered will also depend on your circumstances and eligibility, the amount you’re borrowing and how much of a deposit you have.

And remember that mortgage rates fluctuate regularly - so you’ll need to check the updated rates when you’re ready to apply for your mortgage.

Can you get a UK mortgage to buy property in Turkey?

You might find it difficult to get a mortgage in the UK to finance your property purchase over in Turkey. Not many UK banks and lenders offer what are often known as ‘overseas mortgages’ secured against property in other countries.

However, you may have some luck with Turkish bank İşbank, which has a presence in the UK.⁵

You could also potentially look at remortgaging an existing property you own in the UK, borrowing more to raise funds for your purchase in Turkey.

Crucially, you should only do this if you can afford the repayments. It could also be a good idea to seek professional financial advice first.

Do banks offer Buy-to-Let (BTL) mortgages in Turkey?

Mortgages in Turkey work a little differently to here in the UK.

Lenders there don’t typically place restrictions on how you can use your property once you’ve purchased it - except if it’s going to be used as a commercial property like a shop or office.

So, there’s not really any such thing as a buy-to-let mortgage in Turkey. You can simply get a residential mortgage and let your property out if you choose.

Refinancing a mortgage in Turkey

It may be possible to refinance your mortgage in Turkey, but there’s not a lot of information out there about it. So, you’ll need to contact your Turkish mortgage provider to find out about refinancing options.

If you are able to remortgage, it could help you borrow more money, such as to fund another property purchase without having to sell your first property.

You’ll just need to make sure you can afford the repayments and aren’t overstretching yourself.

Types of mortgages in Turkey

You can find many of the same types of mortgage in Turkey as in the UK, with two of the most common options being fixed term and variable rate mortgages.

Here’s a little more about each:

Fixed rate mortgages

One of the most popular repayment mortgages around, fixed-rate deals typically offer low rates for a set period or even the entire loan period - this can mean greater financial security.

Foreign applicants are most likely to be able to get fixed term, rather than variable rate, mortgages.⁶

However, there are some potential downsides. These include missing out on cheaper repayments if rates go down, and getting a higher interest rate compared to variable rate mortgages.

Variable rate mortgages

In Turkey, variable rate mortgages are linked to Turkish central bank policy rates, which are particularly high at the moment due to ongoing challenges within the country’s economy.²

The rate can fluctuate with this kind of mortgage, so you could end up paying more or less in monthly repayments.

Final tips for getting a mortgage in Turkey as a non-resident

To stand the best chance of getting accepted for an Turkish mortgage as a non-resident, bear these tips in mind:

• Ensure you have a large enough deposit
• Get tailored advice for foreign applicants, to help you find suitable non-resident mortgages in Turkey.
• Make sure you have all your documentation in order, especially relating to income, employment and savings. You may also need to have some documents translated and notarised.

Manage your overseas property costs with Wise

If you’re sending your deposit and mortgage fees to Turkey from the UK, you may incur hefty transfer and exchange fees when converting your British pounds to Turkish lira (TRY). This is where Wise and the Wise account can help you save money.

Open a Wise account online and you can start managing your money in 40+ currencies. It’s not a bank account and offers customers an alternative option to a conventional bank account, but has similar features.

Here’s an overview of the main benefits for using Wise:
Fast and easy setup with no physical paperwork Low, transparent fees* Mid-market exchange rate for currency conversions Fully trackable transfers Fast transfer times Advanced security features with two-factor authentication and real-time notifications Dedicated support for large transfers

Sign up with Wise today

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FAQs

Here are some of the most common questions:

Do I need a Turkish bank account to buy a house in Turkey?

Yes, having a Turkish bank account is a mandatory requirement to get a mortgage in Turkey.²

Even if it wasn’t a legal requirement, it would still be sensible to have some kind of international account in Turkish liras - as it can make the process of buying and selling property much easier.

Can you get a 100% mortgage in Turkey?

It’s unlikely that you’ll be able to get a 100% mortgage in Turkey, especially if you’re a foreign citizen or non-resident. Even if you could, it’s likely that the interest rate would make it unfeasibly expensive to make repayments.

What’s the age limit for mortgages in Turkey?

Lenders in Turkey may refuse applications from people who will be over 70 years old at the end of the mortgage term.²

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Sources used:

1. Online Mortgage Advisor - Getting a Mortgage in Turkey
2. Investropa - Can I get a mortgage in Turkey?
3. Papel- Step-by-Step Guide to Applying for a Mortgage in Turkey
4. Deal - How to Get a Mortgage in Turkey as a Foreigner - Complete 2025 Guide
5. İşbank - Overseas Mortgages
6. Properstar - How to get a loan for your property purchase in Turkey

Sources last checked on date: 22-Oct-2025