We now offer mortgages in Turkey.

[DarrenK]

The only people whjo really know what they are doing with Turkish mortgages from start to finish are the Turkish Mortgage Centre. If you walk into a branch of a Turkish bank to get a foreign currency mortgage they will most likely give you the same product they give to locals, which have higher interest rates, because the locals income is in Turkish Lira.. ,,In any case you will inevitably get a higher interst rate, lower debt ratio and shorter loan length, ....and beware- some Turkish banks can make you an offer which is worthless because they dont have the staff that know how to do everything thats required at the end - and that is always the case with UK overseas mortgage brokers,,,if you want to avoid being messed around just ignore their fast talk..,many of them get fed up and just simply tell you you didnt qualify etc etc etc

[debbiec1]

Darren, although I agree that foreigners would not be advised to walk into a Turkish bank themselves because of the reasons you give, I cannot understand how you can make the statement that Turkish Mortgage centre are the ONLY people who knows what they are doing or that it is always the case with UK overseas mortgage brokers that they don't know their business. I believe that the TMC is also based in the UK?

Our mortgage broker is Turkish, based in the UK and makes regular trips around Turkey visiting local banks as well as the head offices in Ankara and Istanbul. He know each manager personally and is always updated about their products and latest offers ready to pass on to the client. He has been approached by many banks, but refuses to work with those that are not flexible or give good rates. He will never tell a client they haven't qualified unless its the absolute truth, which is normally down to the client not presenting enough financial information. Therefore, he knows EXACTLY what he is doing and works together with the client to find a product suitable for them.

Turkish Mortgages

Debbie
Spanish villas Spain
Hot Property Turkey

[DarrenK]

Debbie, sorry to say, a little knowledge can be a dangerous thing...

If you imagine that mortgages in Turkey are done like mortgages in the UK, and that your UK mortgage broker and their chap of Turkish origin living in hte uk making visits once in a while can do whats necessary, then you're mistaken...and its that attitude thats part of the problem thats left so many poor unsuspoecting property buyers with sob stories....

The well worn phrase "GET REAL" is pretty appropriate in this context.

The two places are worlds apart when it comes to most things including mortgages...and unfortunately most foreigners going to Turkey are largely uninformed or misnformed, and UK mortgage brokers are no exception...mainly because they dont care to do whats necessary...

[debbiec1]

I don't 'imagine' anything - I make it my business to know my job and living full time in Turkey makes it a lot easier than many agents living in the UK & giving out advice on properties, areas and mortgages. How much time have you spent living in Turkey? What gives you the right to be a pompous ass who knows better than anyone else?

When I said Seckin makes regular trips to Turkey, I meant regular, not 'once in a while'. He is here every 2-3 weeks and often accompanies his clients. No client of ours would ever arrive in Turkey 'uninformed or missinformed' and we've certainly never had any sob stories from any of them.

I don't understand why you would come onto this forum and start slagging off people and businesses you know nothing about.

[DarrenK]

Far too many self professed experts simply don't know what they don't know...

Any one that does know, can take one look at your website, and see that .... You are trying to do mortgage business in Turkey as if it was the UK.

Regrettably I have been called on far too frequently to assist people that have been the victims of property and mortgage scams in Turkey....mainly by knowing the right people for the job...and likewise with mortgages there is now a credible Turkish mortgage broker, and finally credible legal firms now servicing foreigners. The sooner the merchants of misleading advice are out of business, the better for all concerned.

Pretending that certain business is done in Turkey the same way it is in the UK is a widespread tactic emplyed by scam artists to dupe the unsuspecting. Conveyance, contracts, mortgages- UK soliciotrs, UK mortgage brokers - its the same story over and over.

There are those that mislead intentionally, and we now have quite a list of of the various misleading practicese employed, several of which appear on your website, unfortunately. While I may not know mortgages I do now have considerable knowledge of the misleading practices employed. You can take an interest and change it any time. No doubt it is not intentional, but you never-the-less have a duty not to mislead.... And now you've been informed.

Many unscrupulous practioners providing legal, property, and mortgage advice imagine they are at liberty to do as they please in the overseas propery markets and unregulated cross border mortgage segment. Perhaps, but not indefinitely.

Many that have, are no longer in business. For example, the mortgage broker that was taking £1500 off clients for valuations without ever submitting an application. Or the firm that accumulated so many applications and then discovered it was too expensive to complete the Turkish side of things and still make a profit...and told the clients that they didnt qualify. Or the firms that have taken fees and guaranteed off plan finance to developers and buyers and never delivered anything.....One that is still in business is a solicitor involved in one for the largest property frauds in the recent years- his partner is serving time for a second offence - while the solicitor in question closed down the firm that carried his name and is now practising under a different one.... A matter that has come to the attention of a certain local police force... Many unkowing victims imagine they need to find a solicitor to seek redress, but often they have been the victim of fraud, and one route to redress is directly to the police....

As it happens I am not a self professed expert - but a widely recognised expert. And likewise the people running TMC. I know, because I encouraged them to deliver mortgage services to foreigners, and despite it being a cost intensive involvement, they continue to do so ethically and credibly, as one of the many financial services businesses they manage. They now manage the first Turkish mortgage brokerage - but their real estate investment and finance expertise is well established with instituional investors. These people are not merely mortgage brokers that crawled out from under a stone somewhere looking for an unknowing innocent to prey upon- like far too many UK overseas mortrgage brokers involved in the business - these people have credentials and references from the top - the top in the sense that they dont come higher- these people have been running financial institutions and financial reform programs in Turkey for at least two decades. And that is how I know them.

And if you have come across my threads on other forums, you wouldn't bother with trite remarks about my ass and what I may know, but you would know the purpose of my "slagging off" of unscrupulous practioners and misleading self-serving practices that undermine the credibility of the market and other participants as a whole-

Unecessary, and undesirable - in a country as overwhelmingly attractive as Turkey....

[debbiec1]

I agree that there are scammers as within any business, and that the sooner those people are out of business the better. However, there are SOME credible Turkish mortgage brokers out there, TMC are not the only ones as you earlier suggested - that is all I was orginally trying to point out before you left comments insinuating that we did not know our business. Personally, I am not 'trying to do mortgages' at all. I speak to clients about buying property and the various options available, I can advise on where and what to buy but if they want financial advice, I will ask Seckin to call them, this is not my area of expertise.

You have to have an insight into the Turkish mentality to understand why my earlier comment about knowing each bank manager personally is important. Clients are far more likely to get a better deal from a broker who has a personal relationship with any given bank manager and although it goes without saying that it helps to know the bank managers you are dealing with in any country, in Turkey business is based on friendship, trust, and a persons word. Once a friendship is formed with the people they work with, they will go out of their way to help - whether in a business or personal situation. Word also spreads quickly within the Turkish business community, if one bank manager had dealt with an unscrupulous broker, you can guarantee that by the next day ALL the banks would be refusing to work with him.

If you can let me know which page on my website you believe to be employing 'misleading practice's, I will gladly check my information.

If you don't want to be referred to as 'pompous ass', then I suggest you try not to come across as one. You may be an 'expert' in your field, but the wording of your comments could be less like an 'attack', both on my company and others in the Turkish mortgage field, which I feel is unjustified. Yes, there are those unscrupulous individuals that you mention, but many others are honest and offer an excellent service and we shouldn't all be lumped into one category. I also suggest that maybe you should have a chat to Seckin on the phone so you will realise he is not 'pretending' the mortgage business in Turkey is the same as the UK and is well informed regarding Turkish mortgages, maybe after which you will offer another post to this forum stating that he does indeed know his stuff.

Turkish Mortgages

[jacqueline]

Originally Posted by DarrenK

Far too many self professed experts simply don't know what they don't know...

Any one that does know, can take one look at your website, and see that .... You are trying to do mortgage business in Turkey as if it was the UK.

Regrettably I have been called on far too frequently to assist people that have been the victims of property and mortgage scams in Turkey....mainly by knowing the right people for the job...and likewise with mortgages there is now a credible Turkish mortgage broker, and finally credible legal firms now servicing foreigners. The sooner the merchants of misleading advice are out of business, the better for all concerned.

Pretending that certain business is done in Turkey the same way it is in the UK is a widespread tactic emplyed by scam artists to dupe the unsuspecting. Conveyance, contracts, mortgages- UK soliciotrs, UK mortgage brokers - its the same story over and over.

There are those that mislead intentionally, and we now have quite a list of of the various misleading practicese employed, several of which appear on your website, unfortunately. While I may not know mortgages I do now have considerable knowledge of the misleading practices employed. You can take an interest and change it any time. No doubt it is not intentional, but you never-the-less have a duty not to mislead.... And now you've been informed.

Many unscrupulous practioners providing legal, property, and mortgage advice imagine they are at liberty to do as they please in the overseas propery markets and unregulated cross border mortgage segment. Perhaps, but not indefinitely.

Many that have, are no longer in business. For example, the mortgage broker that was taking £1500 off clients for valuations without ever submitting an application. Or the firm that accumulated so many applications and then discovered it was too expensive to complete the Turkish side of things and still make a profit...and told the clients that they didnt qualify. Or the firms that have taken fees and guaranteed off plan finance to developers and buyers and never delivered anything.....One that is still in business is a solicitor involved in one for the largest property frauds in the recent years- his partner is serving time for a second offence - while the solicitor in question closed down the firm that carried his name and is now practising under a different one.... A matter that has come to the attention of a certain local police force... Many unkowing victims imagine they need to find a solicitor to seek redress, but often they have been the victim of fraud, and one route to redress is directly to the police....

As it happens I am not a self professed expert - but a widely recognised expert. And likewise the people running TMC. I know, because I encouraged them to deliver mortgage services to foreigners, and despite it being a cost intensive involvement, they continue to do so ethically and credibly, as one of the many financial services businesses they manage. They now manage the first Turkish mortgage brokerage - but their real estate investment and finance expertise is well established with instituional investors. These people are not merely mortgage brokers that crawled out from under a stone somewhere looking for an unknowing innocent to prey upon- like far too many UK overseas mortrgage brokers involved in the business - these people have credentials and references from the top - the top in the sense that they dont come higher- these people have been running financial institutions and financial reform programs in Turkey for at least two decades. And that is how I know them.

And if you have come across my threads on other forums, you wouldn't bother with trite remarks about my ass and what I may know, but you would know the purpose of my "slagging off" of unscrupulous practioners and misleading self-serving practices that undermine the credibility of the market and other participants as a whole-

Unecessary, and undesirable - in a country as overwhelmingly attractive as Turkey....

Hi Gregg and Debbie, I have just read both your comments and I myself have been involved with the Turkish property business and I am also a potential buyer of a property needing a mortgage in Turkey,after Greggs comments about Turkish property business and Turkish mortgages I am a little concerned.
Gregg, I dont know you as a person or your company personnally, but the comments you made in general about the whole industry,it seems you must be an expert in your field know can I suggest to you we work together to close down all the agents in Turkey and Britain running Turkish property and mortgage businesses and just leave you alone in this field as a king of the only Turkish property and Mortgage business on this planet. I think you have a special mirror you look into every morning and see yourself as the best man in the business; how knowledgeable, how intelligent, how wonderful you are.
Know leave this to one side for the moment I believe since you made these comments you have a legal and moral obligation to let the authorities know in Britain and Turkey. As a business man, you just cannot accuse the way you did, know I am asking you to do a big favour to the British public name those peopleand company's you are saying didnt do their job right, that conned potential buyers and report them to the local authorities. You just cannot fart in public and walk away without saying sorry. Know be man enough to report those people that have commited these irregularities to the authorities, and prove it.
Gregg if you dont do this I am afraid the other party in this, the lady called Debbie will be right, and I would add the biggest to the commment she made! DONT MUMBLE NAME AND SHAME THE PEOPLE YOU ARE TALKING ABOUT.

[ams]

hi all - new member looking to purchase(?) in turkey - a few q's:
what is the interest rate in turkey to purchase a property?
or is it better to release equity in Uk and use the money to finance purchase in Turkey?
having looked around this site - is it better to buy or rent long term? (there appears to be a few threads saying you can rent from around £100 - £150 per month!)
as an avid gardener, i am looking for a house with large(ish) plot - are there any rules regarding this?
all help will be appreciated