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  • Writer's pictureBeyond Borders

Buying Property in North Cyprus: Overcoming Mortgage Challenges with Developer Payment Plans

Purchasing property in North Cyprus can be an exciting opportunity, offering a chance to own a slice of paradise in a beautiful destination. However, navigating the mortgage process in North Cyprus can be challenging for international buyers. Thankfully, developers in the region have devised a solution: payment plans that make property ownership more accessible, typically spanning several years and often without interest. In this blog post, we'll explore the difficulties associated with obtaining a mortgage in North Cyprus and how developers are making it easier for buyers with flexible payment plans.

The Mortgage Challenge

Acquiring a mortgage in North Cyprus as a foreign buyer can be a complex and demanding process. The challenges typically revolve around factors such as stricter lending criteria and limited availability of mortgage options. Local banks may require extensive documentation, including proof of income, credit history, and collateral, which can prove cumbersome for overseas buyers. Additionally, interest rates and deposit requirements may vary but are typically higher further complicating the mortgage application process. At the moment, it wouldn’t be uncommon to see interest rates on mortgages range from 9%-12%.

Developer Payment Plans

Fortunately, many developers in North Cyprus understand the hurdles faced by international buyers and have introduced payment plans as an alternative solution. These plans are designed to accommodate the financial needs of buyers, making property ownership more accessible and affordable. Here's how they work:

  1. Flexible Instalments Developers offer the flexibility of spreading the cost of the property over an extended period. This allows buyers to make regular installments over several years, eliminating or reducing the lump-sum payment upfront.

  2. Interest-Free Financing - 0% Unlike traditional mortgages, developers often provide payment plans without charging interest. This reduces the financial burden and makes owning property in North Cyprus more financially viable for buyers.

  3. Customised Payment Options Developers strive to tailor payment plans to the unique requirements of buyers. Depending on the project, developers may offer various payment options, such as equal monthly instalments, graduated payments, or balloon payments at the end of the plan.

  4. Minimal Documentation Compared to mortgage applications, payment plans offered by developers typically require less extensive paperwork and no credit checks, simplifying the process for international buyers.

Advantages of Developer Payment Plans

The introduction of payment plans by developers in North Cyprus brings several advantages to buyers:

  1. Accessibility Payment plans allow buyers who may not qualify for traditional mortgages to fulfill their dream of owning property in North Cyprus. The flexible nature of these plans accommodates a wider range of financial situations.

  2. Reduced Financial Strain Spreading payments over an extended period can ease the financial burden, making property ownership more manageable and affordable for buyers.

  3. Simplified Process Developer payment plans often involve a streamlined application process, minimizing paperwork and administrative hurdles for buyers.

  4. Favourable Terms Interest-free financing means buyers can focus on the property's value without worrying about excessive interest rates, an increasingly burdensome topic. This enhances the overall affordability and long-term investment potential.


While obtaining a mortgage in North Cyprus can present challenges for international buyers, developers have introduced payment plans to overcome these obstacles. These plans offer flexible installments, interest-free financing, and simplified processes, making property ownership in North Cyprus more accessible and affordable. For those seeking to invest in this beautiful region, exploring developer payment plans can be a smart and practical way to achieve their dream of owning property here.

At Beyond Borders Property, we talk you through your options and simplify the process further. Many of the newer projects we advertise come with payment plans and we are also well placed to negotiate with developers on your behalf.


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