Mr and Mrs Robinson obtained a sum of money through an inheritance three years previously. Rather than leave the money in the bank they decided to use the £65,000 to purchase a four bedroom apartment in Bodrum as an investment. Three years on, Mr and Mrs Robinson were looking to diversify.

Mr and Mrs Robinson did not know what to do and asked a friend who recently bought a property in Turkey for advice.  He recommended the advisor from Turkey Property Mortgages as he was extremely happy with the professional service he received. 

Mr and Mrs Robinson contacted the advisor, who used his vast experience of the Turkish property market to advise that it would be a good time to release some equity from their property to purchase another Turkish property in Kas which could bring  them 8% net annual rental income. He provided advice on the mortgage procedures and the costs involved.

Mr and Mrs Robinson were both in employment in the UK and were able to provide proof of income for the application of equity release using their property in Bodrum. Furthermore, TPM’s Turkish speaking staff made a search in the local Turkish property market to find out that the current value of Mr and Mrs Robinson’s property in Bodrum had risen to £105,000, giving Mrs and Mrs Robinson £40,000 capital appreciation within 3 years.

The amount that they could borrow was calculated, and after an initial assessment, the most favorable Turkish mortgage product was recommended in writing along with the details of all costs and fees involved.

All the services up to this point were given free of charge. Mr and Mrs G were only asked for a refundable brokerage fee, payable when they decided to proceed with their application.

The €75,000 raised from their property was re-invested in a second property in Kas using Turkey Property Mortgages’ services, and if everything goes to plan they will be coming back to Turkey Property Mortgages in a few years to review their portfolio.