We used Liverpool equity to buy a Turkish home

Monday, April 15, 2013

We used Liverpool equity to buy a Turkish home

Turkey has many selling points, including the availability of affordable holiday homes in a healthy property market.

However the mortgage market is in its infancy so investors tend to be cash buyers, or those who can re-mortgage back home. Merseyside couple Valerie Winward and husband Ian bought a new holiday home in Turkey in January using equity from a second home Valerie owns in Liverpool.

"We were £25,000 short of the agreed purchase price of £56,000 when we planned to complete in December," said Valerie (pictured), who lives in Ainsdale, near Southport.

"However, I was able to release equity from a property I own in Liverpool so we were able to complete in January. We're so excited about our next visit."

Valerie and Ian's property is a two-bedroom duplex apartment in Hisarönü, near Fethiye and the stunning Ölüdeniz lagoon. On a small gated complex called Lymra Homes, which has communal pools and views over the pretty town, the property was on the market for £59,000.

"We made an offer of £56,000 in October through estate agent Spot Blue - one of the UK's leading Turkish property agencies - which was accepted," continued Valerie.

"Spot Blue's agent was extremely helpful. Things happen differently in Turkey, people are much more laid-back, which can be unnerving, but the agent was able to reassure us throughout the buying process. We gave power of attorney to him to oversee completion. "

Valerie and Ian first went to Turkey 16 years ago, when they stayed in Alanya on the south coast. Two years later they discovered the Fethiye area, including Ölüdeniz, fell in love with it and returned for numerous holidays. Hisarönü is a 10-minute drive from the colourful harbour town of Fethiye.

To reach their Turkish property, Valerie and Ian's simplest option is to hop on an easyJet flight from Manchester to Dalaman, then they have just an hour's transfer to Hisarönü. The couple plan to rent out their property in July, August and September, and visit as much possible with their children during the remainder of the year.



More about Spot Blue: Spot Blue only promotes property of developers that pass its due diligence assessment. It also specialises in matching buyers with suitable properties and operates in all major resorts in Turkey. Spot Blue Overseas Property/Tel: +44 (0)20 8339 6036; Email: info@spotblue.com, website: www.spotblue.com


Get help buying a property in Turkey

A Place in the Sun produces free detailed guides to buying property abroad. Download the guide to buying a property in Turkey or search our for sale listings for a property in Turkey.

A Place in the Sun Live is a great place to start your journey to owning a home in Turkey. Taking place at the NEC Birmingham on 27th-29th September, A Place in the Sun Live is the official exhibition of the hit Channel 4 TV show and features live appearances by the show's TV presenters Amanda Lamb, Jasmine Harman, Jonnie Irwin and Laura Hamilton.

Tickets to A Place in the Sun Live are on sale now at two for £15. Click here to book.


A Place In The Sun