CAN I APPLY FOR A BANK LOAN PURCHASİNG REAL ESTATE İN NORTHERN CYPRUS?

Can I Apply For A Bank Loan Purchasing Real Estate in Northern Cyprus?

The cash given for the purpose of a North Cyprus loan covers a certain part of the real estate value. For this reason, up to 75 percent of the real estate value, whose loan utilization rates are determined by the appraisal, is provided by the bank at the stage of purchasing a house. The sale value of the house is calculated by bank appraisals.
• While this loan utilization rate can be provided at 75 percent levels for real estates with Turkish title deed or Exchange title deed
, it is at the levels of 70% for homes with tahsis title deed.

Application conditions ;

Being a TRNC citizen or residing in the country with a work/residence permit
• Working in Cyprus for more than 1 year
• Being old enough to benefit from a life insurance policy during the loan term
• Documents showing income status (payroll, bank statements, etc.)
• The guarantor according to the size of the loan


Needed Documents;
Copy of ID or passport of the person who will use the loan
• Copy of ID or passport of the person who will be the guarantor of the loan
• Loan request form
• Documents showing income belonging to the person who uses the loan and is the guarantor.
• Residence certificate, electricity or water bills of the person who uses the loan and is the guarantor.
• Documents showing the financial risk status of the person who uses the loan and is the guarantor.
• The appraisal report prepared over the last 3 months by the loss adjusters accepted by the bank is sufficient.

Century21 is with you in every aspect of your process while buying your real estate. It offers you the most suitable loan rate and paperwork process in the fastest way. If you want to get professional support during this process, we are as close as a phone call.