Frequently Asked Questions

What is the term of the mortgage?

The term of the mortgage loan will be depending on your preference, at least 1 year and maximum 25 years, and must be repaid before you reach the age of 70

The mortgage amount for a property is capped at 75% of the execution value of the property. The minimum amount of the mortgage loan is € 25.000.- (or equivalent in other major currencies).

Fortis Second Residence Services
Benelux, Spain, France,
Italy, Portugal, UK & Turkey
 

Once we receive your application, Fortis shall access the credit report information system of your country. The assessment relates to existing loans and loans already deemed. In case of a positive assessment you shall receive an offer from Fortis.

a. You complete the application form for a Mortgage Loan. You easily print the application form from www.fortis.com.tr or phone Fortis Second Residence Services.

b. After your application has been recorded, Fortis Second Residence Services will inform you whether you are eligible for a Mortgage and whether your application has therefore led to a pre-acceptance or a rejection. This involves only a limited assessment on the basis of the information you provided on the application form. A rejection, if any, will be informed to you in writing or verbally. No rights can be derived from a pre-acceptance. If your application has been provisionally accepted, we will be asking you for documents such as:

• Copy of the “Tapu” (Title deed);
• Copy of the “iskan Ruhsati” (Certificate of Permission for Building Using). For both applicants:
• Certified copy valid passport;
• Past two years tax statements statements;
• Three months most current original salary slips;
• Pension award letter (applicable if retired);
• Three years signed personal tax returns (applicable if self-employed);
• Last three years corporate returns as well as year-to-date profit and loss statement and balance sheet (applicable if selfemployed);
• Copy business registration from the Chamber of Commerce (applicable if self-employed);
• Employer’s reference letter not older than three months;
• Fully executed divorce decree (if applicable);
• Life insurance policy (if existing);
• Preliminary purchase agreement;
• Two months most current bank statements (all pages) showing:
  • Name and address information;
  • (Monthly) salary payment;
  • Rent or mortgage payment for the past month;
  • If applicable, the life insurance premium linked to your mortgage of the past month;
• Statement of accounts for any other existing loans.

c. If all documents are satisfactory we will request you to transfer an amount of EUR 400 to the account of Fortis Bank Turkey for the survey of the property.

d. Following receipt of the payment, the survey of the property will be carried out in due course and the survey report will be sent to Fortis Bank Turkey.

e. Following receipt of the survey report Fortis Bank Turkey will re-assess your application on the basis of the survey and other information relating to the property and if justified prepare a proposal.

f. You are required to return the signed proposal within three weeks.

g. The proposal is valid for two months following the date of agreement.

h. You are required to carry out the following actions and obtain the following documents within those four months:

• Approval by the Savunma Bakanligi (Ministry of Defence);
• Turkish tax/social security number;
• The compulsory insurances;
• Set a date on which all parties will be present at the “Tapu” (Office of Land registry) for the actual transfer and the establishment and registration of the mortgage in the Office of Land registry. You are required to inform Fortis Bank Turkey thereof no later than 7 days before this planned date.
   

  The actual transfer of the property and the establishment and registration of the mortgage are not performed in the presence of a civil law notary. The documents require to be signed by the parties in the presence of a locally competent official, after which this official will prepare the mortgage deed and perform the registration in the Office of Land registry. After registration, the mortgage deed and the mortgage covenant will be issued to Fortis Bank Turkey.

  To prevent unexpected obstacles delaying or even preventing the transaction, you can ask the seller to arrange the Office of Land registry to fill in a document referred to as “Takyidat Belgesi”. The completed document contains a range of relevant information relating to the property. Completion of this document will not only significantly expedite the application procedure but also aid timely identification of any problems. Completion of a “Takyidat Belgesi” is voluntary however and can in no way be enforced, nor can the possibility be excluded that the Office of Land registry will not cooperate with the seller. If possible we would like to receive this document as early as possible, preferably when you return the signed proposal to us.

  As no civil-law notary is involved in Turkey before or during the transfer and registration at the Office of Land registry, you are required to safeguard your own interests. While Fortis can, partly to protect its own interests, perform checks as well, it accepts no liability whatsoever in respect of the purchase agreement entered into by you or any (latent) defects of the property. Fortis recommends that if possible you arrange to have the purchase agreement endorsed/drawn up by a civil law notary in Turkey. At the transfer and registration process, the local civil employee of the Office of Land registry may ask that you employ a translator to ensure that you understand all the details. The mortgage deed will be signed in Turkish. The English translation will be provided to you as an enclosure together with the Offer Letter.

b. Appraisal Costs: An expertise company appointed by Fortis Turkey will carry out the appraisal of the property. The costs of the appraisal are borne by the customer and are set at a fixed amount of € 400.- To enable Fortis to submit a mortgage, customer is required to remit these costs in advance. This means this cost is to be paid regardless of whether a proposal is subsequently made to the customer by Fortis or regardless of whether the financing is eventually provided.

c. Transfer-Tax: This non-recurring tax of 3% relates to the value and location of the property as recorded in the “Tapu”. The property and transfer taxes are subject to change according to the Turkish legislations.

d. Early Repayment Fee: In the event that you wish to terminate the contract with Fortis, you are required to pay the outstanding amount in whole. In this case, Fortis is entitled to charge a fee of 2% of the loan amount.

e. Insurance costs: The costs, including premiums payable, for the term life insurance, (optional) DASK insurance, building insurance. The term life insurance may be included in the financing if it is a single-premium policy.

f. Interest rate on the mortgage: The interest rates are subject to change, only rates are offered at the offer letter are binding and legal. The term chosen is fixed for the entire term of the contract.

Required Document	Employed	Self-employed	Retired
Official tax statement of the most recent year in the home country	*	*	*
Copy of the Tapu of the object that will be bought (“Kat mulkiyet tapusu” or “Kat irtifak tapusu + yapi kullanim izin belgesi”)	*	*	*
Copies of passports made and signed by the branch or notary	*	*	*
Income statement of employers signed by the employer	*		*
Official document/declaration from a public notary/cadastre that the person who signed the income statement is allowed to sign	*		*
Bank statements declaring the income (not older than 3 months)	*		*
Annual report of the holding company for the last two years together with a copy from the shareholder register		*
Documents proving monthly financial obligations (rent, house loan installments, alimentation)	*	*	*
Overview of private assets proven by official statements	*	*	*
Overview of private debts proven by official statements	*	*	*
Signed application form	*	*	*