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Paper: eres2003_151
| Paper title: | Alternative mortgage instruments for inflationary economies: adjustable payment mortgages in Turkey |
| Authors: | Erol, Isil; Patel Kanak |
| 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). |
| Type: | |
| Year of publication: | 2003 |
| Series: | ERES:conference |
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| Citation: | Erol, Isil; Patel Kanak (2003). Alternative mortgage instruments for inflationary economies: adjustable payment mortgages in Turkey. 10th European Real Estate Society Conference (10-13 June 2003) Helsinki, Finland, http://itc.scix.net/paper/eres2003_151 |
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