Urban transformation is confronted by concepts that we have been hearing quite often lately. The banks they live in are trying to serve their customers with urban transformation credit opportunities for residential owners who are at risk. So, what is the urban transformation loan? Who can apply and what are the requirements? Curiosity of urban transformation credit facilities and forms of utilization … Urban transformation loan banks; is a type of loan that real estate owners ask for their building to be demolished and rebuilt.
The urban transformation loan, which is provided under the law related to the transformation of disaster risk areas, is provided for reconstruction of risky structures. It is generally known that in case the contractor agrees, risky buildings can be renewed without charge by the related company. However, this may not always be the case. In such situations, some residential owners are bringing urban conversion credits offered by banks. Some conditions must be moved to apply for the urban transformation credit for the buildings that the contractors can not renew but because they are risky and for which renovation decision is given. This situation must be determined first because the urban transformation loan is issued for risky structures under risk of disaster. Reports should be prepared that this is a risky building. On the other hand, those who want to buy different housing and the residents who have been living in risky buildings for at least 1 year can benefit from the conversion credit.