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Paper eres2003_151:
Alternative mortgage instruments for inflationary economies: adjustable payment mortgages in Turkey

id eres2003_151
authors Erol, Isil; Patel Kanak
year 2003
title Alternative mortgage instruments for inflationary economies: adjustable payment mortgages in Turkey
source 10th European Real Estate Society Conference (10-13 June 2003) Helsinki, Finland
summary In the highly volatile inflationary environment in Turkey, there is not an efficient residential mortgage finance system. Due to the limited access to mortgage financing, low- and middleincome households do not have much chance of becoming homeowners in the market for authorised housing. Thus, Turkish government in collaboration with a state bank (Emlak Bank) focused on using alternative mortgage instruments to solve the problems which inflation causes in the case of constant payment mortgages. The use of Index-Linked Payment Mortgages (IL-PMs) have became more popular mortgage instruments since the late 1990s as an alternative to fixed rate mortgages (FRMs).
series ERES:conference
discussion No discussions. Post discussion ...
ratings
session Session 7, Housing Economics 3
last changed 2008/12/29 19:09
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