|
PROPERTIES
SERVICES
INFORMATION Testemonials
|
Motif Homes are pleased to announce that we have teamed up with a financial services company in the UK who are able to offer the following services to both individual and corporate clients:
If you are considering purchasing a property in Turkey, Turkish Mortgages are now available for foreign buyers for either property purchase or re-financing for home improvements with rates from approx. 5,90% in Euros. Mortgages for other purposes may also be considered
Your mortagge in Turkey is based on your joint net *take-home* pay and is calculated on an affordability basis. All existing liabilities including any mortgage-rent payments, personal and bank loans and any maintenance- ie Divorce payments together with your proposed Turkish Mortgage payments must not excedd 45% of your net monthly income. Example; Net joint monthly *take-home* pay of GBP2,500 times 45% of that figure is GBP1,125 minus existing monthly mortgage payment of GBP700 with no other liabilities leaves a balance of GBP425 for a proposed Turkish Mortgage payment. Properties can be purchased either individually or in joint names- maximum 2 applicants. Current İnterest rate from approximately 5.9% fixed for 1 year in Euros or Approximately 6,90% fixed for 1 year in Sterling Fixed rate loans over 3 and 5 years are also available
Please note that if the property is rented the interest rate is increased by 0,60% for all schemes throughout the mortgage term. The Turkish Lander will not take into consideration any propesed Rental İncome from the property for Turkish mortgage Purposes-repayments.
Example; Turkish Mortgage in Euros; Repayment Mortgage of approx Euros80,000 over a period of 20years at an initial Fixed interest rate of approx 5,90% equals approx Euros577.00 capital and interest per month equalsa total approx amount payable over the term of Euros141,320 including capita, interest, arrangemnet and survey fees.
The lender shall obtain the security fort he turkish Mortgage before Land Regsitry Officer and all parties to the sales transaction, including the vendor, puchasor,and-or a representative of the parties need to be present. However a power of attorney may be used to sign on your behalf fort he Turrkish Mortgage and Land Deeds.
Mandatory earthquake –DASK will be required to cover the Turkish property if the property is a building. Life insurance is not mandatory with all the lenders but is is adversory where not a condition of the Turkish Mortgage. Turkish Lenders will not advance funds to purchase or renovate properties that are currently uninhabitable. It is advisable to arrange your Turkish Mortgage before agreeing to purchase a property in Turkey. please click for qualification form At last a Turkish Mortgage for Turkish people Turkey has a huge population of just over 70 million which expands by approximately 2% each yea rand there is now a strong demand for property in Turkey. The new Mortgage facilities will boost the Turkish property market to new levels and will mean a dramtiic increase in property construction in general including holiday homes. To date, Turkish banks have only offered short term loans which has limited the possibility of mortgages and has in turn limited the real estate eceonmy in Turkey. However, the reduction of extremely high levels of inflation through a floating foreign Exchange regime and tight monetary policy have led to the better economic conditions of today*s Turkey. The countrys high interest rates have now fallen from around 24% at the end of 2004 to an encouraging 13% at the end of 2005. Finally with Turkeys EU accession due sooner rather than later the Turkish Mortgage will go a long way to bring Turkey into line wth the standards and practices expected from worldwide property purchasers. We aim to provide excellent customer service and in order to broaden this we are now pleased to advise we have been appointed as the Aviva General Insurance Agency for the area. Aviva is the 6th largest insurance group in the world has the No 1 market position in the UK and Ireland. The Company has a history of over 300 years and the group Aviva was created in May 2000 by the merger of CGU and Norwich Union. Norwich Union is the largest general insurer in the UK, with a market share of 14% and operations in more than 25 countries. The group insures one in five households, one in seven motor vehicles and more than 800,000 businesses in the UK. Also, Norwich Union was voted the Best Insurer for service in a survey by Professional Broking magazine and won the award for most trusted insurance company in the Readers Digest 2004 trusted brands awards. The main benefit of this alliance to our customers is that you have the confidence of knowing that when you insure your house you are knowing who you are dealing with. Household insurance is as important for your home in Turkey as it would be anywhere else, especially if you will be using the property just as a holiday home and the property will be empty for long periods of time - the risk is higher the same as the Premium if unoccupied for less than 60 days a year. Insurance against the risk of earthquake is compulsory even though the main earthquake zone is a distance from this area - the compulsory insurance is limited so it is advisory to take out cover for the full reconstruction of the building (unless it is an apartment then you should only need contents and public liability insurance). Just as anywhere else if you under-insure your home and the worst happens the Company will not pay out for the full extent of your loss.
Property Tax The tax is calculated on the basis of the notional value of the property and the amount may be appealed against but the sums are usually very small and any appeal is not worthwhile. The amount charged is the notional value of the property multiplied by the tax rate fixed in the locality. No demand for payment of tax is made in Turkey. It is the tax payer's responsibility to learn the amount and the latest payment date from the local council Office.
Capital Gains Tax Unless you have been living in Turkey for some time it is unlikely that you will be able to benefit from a Turkish pension. You can however continue to claim your UK pension.
State Pensions
Private / Company
Pensions
Government Pensions Unemployment and means tested Social Security benefits are not generally payable once you have moved to Turkey. Most Turkish banks offer excellent banking facilities for residents and non-residents alike. Most people operate a simple current account (Vadesiz) and utility bills, e.g. electric and monthly maintenance payments, can be paid direct from that account. This account pays very little if any interest but you can arrange with the bank to transfer in your absence any sums into an interest bearing account. Most banks also offer useful internet banking facilities. Personal cheques and bankers drafts are not an acceptable form of payment in Turkey. Cheques are not widely used in Turkey, usually only by business people. There are no such things as cheque guarantee cards but the issue of a cheque without sufficient funds in the bank to cover it constitutes a criminal offence here - bounced cheques are unacceptable!
|
|||||||||||||||||
Disclaimer
|
|
|||||||||||||||||
