Have you found Bulgaria a nightmare generally to deal with when it comes to mortgages?. To be frank, it is. Just the laws and bureaucracy to purchase never mind attain a mortgage is not for the faint hearted. So to make the process easier, we have created a 'one stop' Bulgarian Mortgage shop for you. Here you will have access to over 6 of the best Bulgarian Lenders, and will be dealt with English speaking staff, expert in the area of Mortgages in Bulgaria.
We have some a good variety of mortgages to choose from. Ranging from 'OFF PLAN' to self cert loans.
Information
- You have purchased a Bulgarian off-plan property and need finance to complete the deal?
- You own Bulgarian property and are interested in releasing equity?
- Or maybe you intend to buy a property and need to be aware in advance what the opportunities for obtaining a mortgage loan are?
The 1st-4-Villas team are here to assist you!
Who can apply?
All UK and Irish citizens (other Nationals’ applications will be kindly considered case by case) can obtain a Bulgarian mortgage loan for financing their property purchase. Each application should be between 21 and 65 years old at the maturity of the loan.
What LTV is available?
Based on the purchase or valuation price, whichever is the lower, the banks grant up to 80% for fully completed properties and up to – 70% for properties that are being built.
What are the interest rates?
- They start from 0.9% for the first year and from 6.5% for the entire term of the mortgage for repayment type.
- The interest rate for Self Certification loans is 9.9%.
Term of mortgage.
The maximum term of loans to Non Bulgarians varies from 10 to 25 years.
Applying as individual or as a company?
Most of the Bulgarian banks offer mortgages only for individuals. Since under Bulgarian law a spouse is automatically entitled to half assets of the husband/wife, they require married applicants to apply jointly for the mortgage.
If you are applying for mortgage through your own Bulgarian company, then you will be required to guarantee the loan. The guarantee must be provided by your main servicing bank in the UK/Ireland and it must be equal to the loan amount and valid till the maturity of the loan.
We have access to every available solution and are actively seeking to add more mortgages to allow even more people to invest in Bulgaria and benefit from better rates and greater flexibility.
So look no further than 1st-4-Villas Ltd. for independent UK based advice on Mortgages in Bulgaria and property investment expertise.To find out more details on the mortgages we can provide, please complete the form below.
