HSBC Bank Mortgages for Overseas Buyers

Primary Features

HSBC Bank Mortgage is extended for completely constructed houses in either New Turkish Lira (YTL) or foreign exchange indexed (USD/EUR/GBP).

§  Terms are up to 10 years both in YTL and fcy indexed loans. (USD/EUR/GBP)

§  The minimum mortgage amount is YTL 50.000 or its equivalent in fcy.

§  In case a valid credit bureau report is submitted max. 65%; if no report available max. 50% LTV would apply for both YTL and fcy-indexed mortgages.*

§  The transaction for the 35% - 50% down payment that the customer will make towards the property, should be through the lending HSBC Branch.

§  Applications can be made via only HSBC Bank Branches and in person.

Interest Rates/Fees/Limits and Guarantees

§  Competitive pricing.

§  Early and interim payments*.

§  Easy repayments: direct debit.

Interest Rates/Fees/Limits and Guarantees

HSBC Bank Mortgages provide the advantage of Personal Accident Insurance* that makes credit terms easier and decreases insurance costs.

Applications

Applications can be made via HSBC Bank Branches. Customers can contact HSBC Bank Branches or HSBC Bank Telephone Banking on 4440111 (lines are open for 24 hours) for further information.

Required Documents

-          Application form.

-          Proof of identity and residency (only for residents in Turkey). As a proof of residency, a copy of the utility bills (water, gas, electricity or land-line telephone) should be obtained.

-          A copy of the deed for the house to be purchased.

-          Income Statement.

-          Tax identity number.

-          Military Clearance (not required for application, but critical for title-deed assignment).

Power of attorney would be required for loan extension; proxy would arrange application forms, agreements and all related documentation.

Evidence of income and employment:

-          3 months' Bank Statements showing the receipt of income.

-          P60 (the tax statement showing income and amount of tax paid – for UK citizens)

-          List of all other income.

-          List of all fixed or regular outgoings (mortgages/ loan repayments etc) & Accountant's Certificate for self-employed customers.

-          List of credit card Balances.

-          Credit check.

Additional documents and guarantees can be requested in accordance with the conditions of the loan requested.

Interest Rates*

Fixed Rate Mortgages with capital re-payment option:

Payments unchanged: The monthly payment stays the same during the full term, irrespective of changes on the board rates.  

Interest and capital repaid: The payment each month covers the interest and some of the capital borrowed.

	Maturity	Premier Rate
		USD
USD	1-6 MONTH	0.39%
	7-12 MONTH	0.38%
	13-18 MONTH	0.38%
	19 - 24 MONTH	0.38%
	25 - 36 MONTH	0.40%
	37 - 48 MONTH	0.42%
	49 - 60 MONTH	0.45%
	61 - 84 MONTH	0.50%
	85 - 120 MONTH	0.55%
	Maturity	Premier Rate
		EUR
EURO	1-6 MONTH	0.50%
	7-12 MONTH	0.50%
	13-18 MONTH	0.49%
	19 - 24 MONTH	0.49%
	25 - 36 MONTH	0.49%
	37 - 48 MONTH	0.50%
	49 - 60 MONTH	0.52%
	61 - 84 MONTH	0.55%
	85 - 120 MONTH	0.58%
	Maturity	Premier Rate
		GBP
GBP	1-6 MONTH	0.59%
	7-12 MONTH	0.59%
	13-18 MONTH	0.58%
	19 - 24 MONTH	0.58%
	25 - 36 MONTH	0.58%
	37 - 48 MONTH	0.59%
	49 - 60 MONTH	0.60%
	61 - 84 MONTH	0.63%
	85 - 120 MONTH	0.65%

Fees Applicable for Mortgage Loans*

Booking/Credit Report Fee:

2% of loan amount (Min. YTL 500) 

Valuation/Expertise Fee:

0.6% of loan amount (Min. YTL 400 / Max. YTL 500)

Early Re-payment Fee:

2% of re-payment amount.

Fund Transfer Fee is also payable to cover the electronic transfer of funds to a third party/seller and subject to change according to loan amount and currency. (Current fee max. YTL 260)

Limits and Guarantees on Mortgage Loans

Minimum Credit Amount:

YTL 50,000 or fcy equivalent.

Maximum Credit Amount

In case a valid credit bureau report is submitted max. 65%; if no report available max. 50% LTV would apply for both YTL and fcy-indexed mortgages.

Guarantees & Collaterals

Mortgage.

Home Insurance.

Compulsory Accident Insurance.

Personal Accident Insurance*.

 

Insurance premiums are paid by the customer and subject to change according to terms and conditions of the loan.

* Regarding new mortgage law, early re-payments would be subject to charges. All interest rates are quoted per month unless otherwise stated and are subject to change. Our credit facilities are subject to status and security. Fees applicable for mortgage loans are subject to variation. Additional documents and guarantees can be requested in accordance with the conditions of the loan requested. Rates, fees and conditions given above are provided for indication only and are not a quotation. This document only contains a summary of main product features. Full terms and conditions will be given during application.