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. SÖBF contains general information about the loan and the terms and conditions of the agreement. The housing loan agreement can only be signed 1 working day after it has been submitted, otherwise the agreement will not valid. Submitting a copy of the signed agreement to the consumer is mandatory.
The content of SÖBF was determined by the Ministry of Industry and Trade after receiving the views of related associations. As of yet, no regulations have been made available regarding this matter. To clarify the implementation, it is expected that the Ministry will issue the related regulations as soon as possible.
The law sets out standard conditions (loan to appraisal value ratio, terms, property features) for consumers regarding these loans.
You can apply for a loan at the nearest Garanti branch with the documents.