NCI has always been a leading North Cyprus estate agency for mortgages and payment plan (mortgage-ready) properties.  Since around 2018, some North Cyprus banks (and North Cyprus branches of Turkish banks) have offered overseas buyers the chance to apply for a bank mortgage – similar to locations like Spain or France.  

We are hopeful that in the future, this will become a realistic route for overseas buyers to pay in installments for a key ready home.  However, in 2022-3 during the post covid property boom, most sellers prefer to sell to a cash buyer rather than wait up to a year for the bank to release funds to an overseas mortgage applicant.  During this time we are not therefore not recommending a bank mortgage as the most practical route for an overseas buyer to purchase a North Cyprus home.

North Cyprus Mortgage, Loan and Installment Plan options

We, at NCI we understand that you may not have 100% of the capital cost of the property available.  Currently you have the choice between applying for –

• If acceptable to the seller – a 50% bank loan over up to 10  years at interest rates similar to those in Turkey for a ready property with individual title deed 
• A private loan at similar interest rates up to 5 years on 50% of the value of an individual deed key ready property (these funds can be released more quickly via a Trust purchase route* and can therefore be more practical)
• A developer loan/installment plan on selected new-build or under construction properties only.  These are rarely available on key ready properties as the sites tend to sell out before completion.  This can be interest free over the build period or with varying rates of interest over an extended period.   You will need between 30-50% of the sale price as first payment.

Please contact us for further details about any of these three options or for further information of the rapid *Trust purchase route.  NCI are agents for all of the best developers with installment plans in North Cyprus.  We are also well placed to negotiate discounts with these developers. 

The NCI Property Questionnaire 

Please complete the PROPERTY QUESTIONNAIRE making sure to indicate what your maximum available cash first payment is, and we will send you the most suitable property options.  Financial consultations are part of the NCI process to ensure we get you the best payment terms and that you do not have to stray out of your financial “comfort zone” during the buying process.  By discussing in advance with us what your maximum monthly payment and down payment is, we can guide you to which development and which payment plan or mortgage will be right for you.