Below is a list of important changes that are brought with the new mortgage law in Turkey: New Mortgage Products Before the mortgage law, it was only possible to lend home loans at fixed interest rates. The law introduced floating interest rates (or a combination of fixed and floating rates) as an additional mortgage type. In floating rate loans, the interest rate is determined from the sum of a fixed margin that is determined by the lender and the inflation rate as measured by the Consumer Price Index. This way banks do not have to face the interest rate risk
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Bodrum Property – One Of Best Place To Invest In Property
bodrum property, is the most popular and easily accessible tourist place in Turkey where the people mostly comes from European countries in a summer to enjoy boat, windsurfing, baths and yacht tours to spend their holidays. Now a day, it becomes very popular so for the entire year whether it would be season of spring, autumn, or winter. In spring, many people are coming here for hiking and sightseeing. In the time of winter, people are enjoying the Tangerine Orchards and Camel Wrestling while autumn is the perfect season for sailing and yachting. There are enough to attract people who
Continue readingFactors To Consider Before Getting A Mortgage In Turkey
The Turkish residential mortgage market has grown significantly over the last few years mainly driven by falling interest rates. The New Mortgage law that passed in March 2007 further strengthened the legal background for both primary and secondary market triggering a sudden increase in the mortgage product variety. While there were only a few mortgage products before the new mortgage law, currently there are more than 20 different mortgage products for consumers. However, the fast growth in the market has not been absorbed by the general public. Surveys show that more than 50% of the people don’t have sufficient understanding
Continue readingOn The New Mortgage Law Of Turkey
Since the new Turkish mortgage law passed on March 2007, the mortgage and real estate markets have continued their growing trends that are mainly driven by lower interest rates; however, this growth is probably just the tip of the iceberg. The Turkish mortgage law that passed on March 2007 has two important properties that are expected to boom the mortgage and real estate markets in Turkey: 1) New mortgage products : With the inclusion of the adjustable rate mortgage products, banks are able to transfer some of the economy related risks in their balance sheets to borrowers. In adjustable rate
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