Please note, that non-status/self-certification mortgage facilities are not available through the lender. All applications need to be supported by a minimum requirement of proof of income. If employed, copies of your last three month's pay slips & your latest P60 and an Employer’s Reference together with copies of your last three month’s Personal Bank Statements will be required or alternatively if you are self-employed or Director of a Limited Company with a shareholding of 20% or more copies of your last three years Audited Accounts plus copies of Personal Tax Returns for the last 2 year & copies of your last 3 Personal Bank Statements will be required on application.
Please note that it will also be necessary to obtain a copy of your credit file via Equifax or Experian.
The lender will NOT take into consideration any proposed Rental Income from the property for mortgage purposes/repayments.
Your loan is based on your joint net “take home” pay and is calculated on an affordability basis. All your existing liabilities including any mortgage/rent payments, personal and bank loans and any maintenance (i.e.: Divorce) payments together with your proposed Turkish mortgage payments must not exceed 45% of your net monthly income.
Example:
Net joint monthly income £ 2,500 times 45% of that figure is £1,125 minus existing monthly mortgage payment £ 700 – No other liabilities. This leaves a balance of £425 for a proposed Turkish Mortgage payment.
Mortgage details:
- Maximum loan to value 75%
- Maximum term 20 years
- €40,000 min loan and €200,000 maximum loan
- Euro only mortgages available
- Repayment mortgages only
- Rates from approximately 6.10%