Credit limit relief for moving from risky buildings to new homes!

The Banking Regulation and Supervision Agency (BRSA) has announced that a credit limit exemption has been introduced for risky housing within the scope of urban transformation.

According to the statement on the BRSA's website, the following statements were included in the "Board Decision Regarding the Implementation of Board Decisions No. 10655 and 10656 dated August 24, 2023, Concerning Housing Loans":

"It has been decided that in the assessment of housing ownership status to be conducted for the application of the ratio of the maximum loan amount determined within the scope of the Board decision dated August 24, 2023, and numbered 10656 to the value of the house taken as collateral, and for the application of the high risk weight determined within the scope of the Board decision dated August 24, 2023, and numbered 10655, in cases where the consumer, their spouse, or their children under the age of 18 own only one house, and this house has been demolished due to being identified as a risky structure within the scope of Law No. 6306 on the Transformation of Areas Under Disaster Risk, or a demolition order has been issued for it, said house shall not be taken into account in the assessment of housing ownership status."

News Source: 12punto