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Overview
With the Decreasing Rate Mortgage, if your loan interest rate is lower than the interest rate of the Fixed Rate Mortgage at the time it is used, your interest rate is rearranged once a year. Therefore, your interest rate and installments fall in specified periods if the interest rates fall, but stay the same if the interest rates increase.
By paying the specified service fee for the Decreasing Rate Mortgage at the start of your mortgage, you can immediately start using your loan.
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Features and Benefits
- The loan can be taken out in TL.
- The maximum term is 240 months.
- The Fixed Rate Mortgage interest rate in effect at Garanti BBVA at the time the mortgage is issued will be applied.
- In case of early payment, 2% of the early payment amount is charged as the early payment fee.
- It can only be used by natural entities for the purchase of a residential property.
- Pledging the purchased property satisfies the collateral requirement.
- While a guarantor is not required in general, our branches reserve the right to demand one, if they find necessary.
- Up to 75% of the appraisal value of the property to be purchased can be financed through mortgage.
We found the following questions in our Help & Advice which might be useful for you...
Will there be any changes in the loan application / evaluation process within the scope of the new law?
With the new law, banks must present a Pre-Agreement Information Form ("SÖBF") to the consumers.
Find out moreWhat will be the interest rates of the loans within the scope of the new law?
The law does not determine an interest rate nor does it contain a subvention mechanism that would lead to a drop in the interest rates in the short run.
Find out moreHow can I apply for mortgage and what are the required documents?
You can apply for a loan at the nearest Garanti BBVA branch with the documents.
Find out moreWhat are the conditions of the loans that are available to consumers within the scope of this law?
The law sets out standard conditions (loan to appraisal value ratio, terms, property features) for consumers regarding these loans.
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