Focus on Bulgarian Mortgages

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Bulgarian Property Mortgages

Bulgarian Mortgages overseas are a lot different than those available here in the UK and possibly where you live. The need to support your loan application with a large number of documents, the limited schemes, and different currency not to mention the language issue, are just the start to what you can expect.

Tip: Always use a specialist mortgage broker to help select and arange your overseas mortgage.

When looking for Bulgarian mortgages it's important to carry out research, but don't get to bogged down with trying to understand every little mortgage detail, that's our job. Remember buying your bulgarian holiday home or investment property should be exciting, challenging but enjoyable. We help to keep things on track, so you don't go off the rails Contact us

We have put together our simple Bulgarian property mortgage criteria to help you to understand the basics. Bulgarian banks and international lenders are used to bring together some of the best mortgage for bulgaria currently available.

All loans on offer are in Euros, so you should remember to build in the cost of the initial deposit and ongoing currency charges, when calculating the overall cost of buying your Bulgarian property. Ask your dedicated mortgage adviser for further details.

Bulgarian Mortgages for residential property only. Sunny Beach in the Red sea remains the most popular resort for property buyers, although 90% are appartnments.
Please note, that if the property is a flat being built, funds are not available until completion and the flat has been legally registered in your name. This will also apply for a new house/villa, however, if the land is already purchased and registered in either your name or a Bulgarian Company (with you as legal owner of that Bulgarian Company), Stage Payments may then be available on a drawdown basis to construct the property - details on request

Loans available for the majority of Nationalities for either House Purchase or re-financing for other purposes including Home Improvements.

NEW PRODUCTS COMING SOON

THE CRITERIA

Age of Clients	Min 25 -Max 70nb on completion
Applicant must be 65 at the end of the mortgage

Max loan	3.5 x single income
	3 x joint income
Min loan	80,000 euros

LTV	75% Max

Scheme	Full Repayent or Interest Only

Mortgage Term	5-25 yrs

Application Fee	1% of the mortgage amount
	1.5% for LTD company applications
Broker Fee	up to 2%

Life Insurance	Mandatory

Interest Rates
Purchase:	3% over ECB base
Remortgage:	3% over ECB base

Bank Account Bulgarian	Not Required

Supporting Documents
	3 months bank statements
EMP	3 months pay slips
S/EMP	Last years accounts
	Proof of ID
	Proof of address
	Outstanding loan statements
	Proof of deposit
	Purchase agreement
	Property details

Bulgarian Property Links

NewPropertyFinder

Mortgage lending potential currently, mortgage loans are 5% of the total credit supply within the local banking sector. In developed credit markets, this rate is usually in the range of 15 - 20%.

Source 'Domestic Diplomatic Properties Agency'

Convinced Bulgaria is your next property purchase in the sun and
want some help with the finance?