The discount campaign of the Ministry of Environment, Urbanization and Climate Change Mass Housing Administration (TOKİ) started on September 23 for buyers of residences, workplaces and land who want to pay off their debt early and get their title deeds.
Citizens who want to take advantage of TOKİ's housing campaign, which was heralded by President Recep Tayyip Erdoğan, will be able to apply until 19 October.
This year, TOKİ will make a 25 percent discount for home and business buyers who want to pay their debts in cash and get their title deeds immediately. Residential and business buyers whose repayment installments have started until the end of June 2021 will be able to benefit from this campaign. In addition, a 12,5% discount will be applied to land buyers.
Citizens who cannot close their entire debt balance will also be able to benefit from the 25 percent discount campaign. Citizens who will not be able to pay off the entire debt will be able to benefit from a 25 percent discount on their advance payments, provided that it is not less than 25 percent of the debt balance.
Residential and business buyers who want to benefit from the campaign will be able to apply to the relevant bank between 23 September-19 October 2022.
It will not be possible to benefit from the said discount rate in debt settlements to be made after this date.
12,5% discount for land buyers
TOKİ will also make a discount for the land sales whose repayments continue due to the high demand from the citizens. Citizens who want to benefit from the campaign can apply between September 23 and October 14, 2022.
A discount of 12,5 percent will be made for land buyers who want to pay their debts in advance and get the title deed immediately.
As of the date of application, the buyers must first make the installment payments for the month in which the debt settlement is made. In addition, there is a condition that there is no retroactive installment debt. Land buyers with 12 or less remaining installments will not be able to benefit from the discount campaign.
Buyers who make their payments to Ziraat Bank will be able to apply directly to the bank and close their debts. Land buyers who make their payments to Vakıflar Bankası will be able to learn from the Administration their debt balances subject to settlement.
Conditions to benefit from the discount campaign
The buyers of residences, workplaces and land in the projects included in the discount application must not have any dues, installments or any retroactive debts to TOKİ as of the date of application.
Housing and business buyers whose sales have been made by TOKİ until 2021 June 30 and whose repayment installments have started before 30 June 2021 at the latest, will be able to benefit from the campaign.
The interest rate for housing loans is 1,29
Housing and business buyers who want to benefit from the campaign will be able to use housing loans from the intermediary banks with which they signed the Real Estate Sales Agreement.
Credit conditions in the campaign were determined by Ziraat Bank and Halk Bank. Interest rates will be applied in the same way in both banks. An allocation fee of 1 per thousand will be charged in all amount ranges, with maturities of 120-5 months for "Housing Loan" and "Workplace Loan". The interest rate will be 1,29 for housing loans and 1,57 for workplace loans.
Campaign gospel from President Erdogan
President Recep Tayyip Erdoğan, in an interview with journalists at the Türkevi in New York at the end of his visit to the USA, announced that they had launched a 25 percent down payment discount campaign for citizens who bought a house or workplace from TOKİ and continue to pay back.