With mortgages for property investors buying in Turkey still both rare and awkward, the British developers of Horizon Sky, Bodrum, have taken matters into their own hands.

Buyers can now take advantage of a 20-year non-status interest-free payment plan which could see purchasers get the keys to a contemporary apartment for just £208 per month. Daniel Dias, the spokesman for developer Signature International, said: “Despite gradual progress, mortgages are still very difficult to obtain in Turkey. Interest rates are high, terms restrictive, arrangement fees around 1.5 to 2 percent and some lenders even charge hundreds of pounds in upfront fees before they’ve approved your loan.

“This has left many buyers of Turkish property with no option but to take equity out of their main residence in the UK or risk losing their deposit. Our non-status interest-free payment plan immediately eliminates any worries the client may have over buying at Horizon Sky.

“As long as the buyer is able to pay a deposit then we’ll offer our special payment plan, after that it’s not too dissimilar from a mortgage. If they fail to keep up the monthly instalments then the purchaser risks losing their property.

“Our quality product is a viable long-term investment so we’re happy for the property to act as security – we have nothing to lose. As a developer we are solvent and stable and are not only willing to stand by Horizon Sky for the few years of construction but also for the long-term.”

Horizon Sky has several payment plans on offer. The most popular is the 20-year interest-free plan which can be accessed after a £1,000 reservation fee and a 35 percent deposit in staggered payments over the build period – around 18 months.

Other plans are available including a zero deposit zero interest five-year term with monthly payments of £1,500 for an entry level home.

Horizon Sky is about 35 minutes from Bodrum, on the Bay of Güllük close to the Aegean Sea. The development includes apartments, penthouses and villas which have access to a private beach, restaurant, sports bar and café, fitness suite, Spa facilities, mini golf, several tennis courts, grocery shop and swimming pools.

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