How to get interest-free installments or a loan in Northern Cyprus?

For foreigners in Northern Cyprus, purchasing property from a developer through the interest-free installment program is very advantageous, as it does not require proof of income, co-borrowers, or additional bureaucratic procedures. The only document you will need to complete the transaction is a foreign passport.
At the same time, you will have the opportunity to choose a payment plan, make individual amendments to the installment agreement, and have absolute confidence in conducting the transaction. Interest-free installments are available for any primary property.
A bank mortgage loan is issued only for finished real estate with a condition to pay 50% of its market value and is issued at 6% per annum.
To apply for a mortgage, you need to provide proof of income, as well as undergo a number of other procedures (property appraisal, co-borrowers’ involvement, etc.). Unfortunately, borrowers in Northern Cyprus do not have the option of early repayment of the interest-free loan.