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Mortgages and Property
Bulgaria
Bulgarian Mortgages for purchasing a property in
Bulgaria - rates in Euros from either approx 6.25% for Re-Mortgages
or 6.70% for House Purchases
Includes Bulgarian residential property. Please note, that
if the property is being built, funds are not available until
completion and the property has been legally registered in your
name.
If you are considering purchasing a property in Bulgaria, Bulgarian
Mortgages are available for UK and Irish Nationals (and non-UK
Nationals on a case by case basis) for either House Purchase
or re-financing for Home Improvements. See below regarding Land
Purchase loans. Mortgages for other purposes may also be considered
- contact us for further information.
Type of Bulgarian Mortgage: Repayment basis only
Minimum: €40,000, No Maximum, but must not exceed if for
House Purchase:- 75% of valuation or purchase price (whichever
is the lower) if the loan is over €100,000, or 70% if the
loan is under € 100,000; if for Re-Mortgage/Equity Release:-
80% of the valuation if the loan is over €100,000, or 75%
if the loan is under € 100,000.
Loans up to 60% LTV are also possibly available for Land Purchase
where the relevant Planning Permissions/Building Licences, etc
have been obtained.
Proof of Income: required in all cases (can be made up of Earned
Income, Pension, Investment or Rental Income. Please note however,
it is not always the case that the Lender will take all or part
of these Incomes into account when determining the maximum loan
available). Non-Status loans are currently not available.
Term: Maximum 25 years - up to age 70
Currency: Euros only
Current Interest Rate: from approx 6.25% if for a Re-Mortgage/Equity
Release or approx 6.70% if for House Purchase
Example Bulgarian Mortgage: Repayment Mortgage of approx €70,000
over a period of 25 years at an interest rate of approx 6.70%
in Euros = approx €487.20 capital and interest per month
= a total approx amount payable over term of €149,040 including
capital, interest, arrangement and survey fees"
Click here for further
information
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