Over the last decade the Turkish banking system has developed into a powerful and very modern business area with a long list of active players. Some of the banks are still under Turkish ownership while others have been swept into European banking groups. Ten years ago loans were very difficult to obtain and interest rates were sky high. On the other hand the banks offered their services without too high transaction fees. Today this has changed completely. Loans are given faster than McDonalds serves a burger and fees have sky rocketed. Where this is good news for those who wish to finance their dream apartment by a local mortgage is also calls for attention to those who just wish to have a bank accounts for minor transactions, since this can end being very costly.
A blog written by 2Base Estate Agency