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dkc2008

Property Purchase In Turkey **please Help!**

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Hi All

I am trying to buy small a property in Ankara, Turkey, later this year. The property price will be around 30K GBP and i have already saved 15k of this.

I tried to get a standard personal loan for £15k from my bank, and they rejected this, as i (perhaps stupidly) said it was for a property purchase abroad. This was against the underwriters 'rules' and therefore the loan was rejected. :(

Now im at a loss of what to do next, any advice would really help! should i:

- try to get a mortgage for this property? ( does anyone have any experience with this? / recommendations of mortgage lenders? / or any tips?)

- try to get another loan, saying it is for 'home improvements'? ( will they be able to check the reason for my last application on my credit file??)

If anyone has any tips / advice / useful contacts ...it would be much appreciated!

Thanks!

dk

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Hi All

I am trying to buy small a property in Ankara, Turkey, later this year. The property price will be around 30K GBP and i have already saved 15k of this.

I tried to get a standard personal loan for £15k from my bank, and they rejected this, as i (perhaps stupidly) said it was for a property purchase abroad. This was against the underwriters 'rules' and therefore the loan was rejected. :(

Now im at a loss of what to do next, any advice would really help! should i:

- try to get a mortgage for this property? ( does anyone have any experience with this? / recommendations of mortgage lenders? / or any tips?)

- try to get another loan, saying it is for 'home improvements'? ( will they be able to check the reason for my last application on my credit file??)

If anyone has any tips / advice / useful contacts ...it would be much appreciated!

Thanks!

Hello, you do not say of you hava property here in the UK. Uf you do, & have you sufficient equirty in the house, then easiest way to finance is to remortgage your property - however you need to be careful that you do not go over 90% - indeed in these times try to keep it to 80% LTV - otherwise you will be hit with higher rates.

I do not know anyone who lends on Turkish property that are based in the UK but maybe other posters on this forum know of someone?

Alternativey if you do not have a property you can take a Turkish mortgage out. BUT I believe they will only loan up to 80% & you will have to provide proof of earnings. I have also heard that they can take a long time to process...please go to the singing pig forum where I believe there is a thread on this that could help you.

Hope this helps

dk

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SPAM ALERT

Nice set up guys -two newbies, one posting a question, the next a "helpful" response.

What a load of spam.

Buying in Turkey would be a disaster at the moment -steer well clear.

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SPAM ALERT

Nice set up guys -two newbies, one posting a question, the next a "helpful" response.

What a load of spam.

Buying in Turkey would be a disaster at the moment -steer well clear.

woah no...i am not a spammer & that's my reply up there to the original enquiry - check out the date - the original query was last year...... now as to the response offering mortgages today...altogether now...spam spam spam!!!!

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  • 401 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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