Hi,

My name is cenk, from istanbul/Turkey. Since 2004 we have bill in parliament about mortgage.So, it will pass in may or june from parliament.
Im a financial advisor in Turkey n ım interesting about mortgage sector.Turkey one of the is fast growing emerging market in the europe.Turkish investors loves to make investment to real estate.Everyone who wants to buy house waiting for this mortgage bill.

So,whats your advise to me...about web site,organization,bpo etc...What ım looking for..care about etc ...thank you ...

ps:if anyone wants write to me about turkey's mortgage sector ı can send reports or some istatistics.. my email is chasdal@parkoreklam.com

Im sorry ı forgot....this is my firt post and ı would like to thanks to forum owner...this site really help me to learn more thing and open my mind...thnx from istanbul

Hello Cenk,
Very interesting perspective! I never really stop to think of what it would be like to not have a mortgage system here. I guess if you want to buy a house in Turkey (for now) you need to pay cash? Or are there other types of loans people use to help buy houses?

Will the Turkish Parliament establish a similar system like ours with a primary and secondary mortgage market? A system whereby the mortgage companies and banks make loans to borrowers, and then sell the loans to Fannie Mae (or similar entity) into the secondary market (investment market), which replenishes the money supply for lenders to make new loans.

Regards,
Sammy

Hello Sammy,

First of thanx for your reply.We have growing,modern and flexible banking system. Especially last few years there was great M&A in Turkish Banking sector.BNP Paribas,General Electric,Fortis Bank maked great investment in Turkey.
So,if ı want to buy a house in Turkey, there are many alternative. Classic Banking Home Loan's.Every bank getting loans for houses.But this is what we called PRIMARY MARKET.

I read the Turkish Mortgage System.Our mortgage systems based on yours...Similer...There is little diffrent about tax etc.

Turkish Goverment will establish like Fannie Mae(or similar)This is necessary for the secondry market n foreign investors.

Dear Sammy, if you interesting about turkish mortgage system you can check this link;

www.spk.gov.tr

The site including english and you can find draft housing financing system for Turkey.

Maybe this will be a great opportunity for you and other mortgage executives.

Any further question please send to me.

Best regards

Cenk

I was in turkey in 2000. Construction was on a cash basis. 1/2 built strucutres with no one working on them were evident in many areas

I have been to Greece and similar to Turkey as I saw many homes unfinished with no roofs. I asked many of the local people and it was explained that they didnt have to pay taxes on an unfinished home. Maybe I am off the mark here but that is what I have been told. Cenk, nice to meet you . ANY HELP YOU NEED, LET ME KNOW.

hmmm...never been in a turkey....not so sure I'd be sayin' that out loud bourbonduke...