Bulgarian Mortgages

Mortgages in Bulgaria were until recently virtually unheard of and becasue of Bularia's reputation for having a legal system that can make it difficult for purchasers to establish title over their chosen property, mortgage lenders weren't exactly queing up to hand out the finances.

Mortgage Shop have confirmed that through their exclusive connections they are able to offer Bulgarian Mortgages, this includes Bulgarian residential property. Like many opther European countries, Bulgarian funds are not available if the property is a flat or an apartment being currently built Bulgaria, until completion and the flat being legally registered in your name prior to the release of any funds. What this means, is that buyers have to source funds elsewhere for the initial staged payments.

This will also apply for a house or villa being built however if the land is already purchased and registered in either in your name or in a Bulgarian Companies name that you are a legal owner of then stage purchase payments may then be available on a drawdown basis to construct the property.

All loans are arranged with overseas lenders, mostly from Bulgaria itself, loans are available for the majority of nationalities for either House Purchase or re-financing / Remortgaging for purposes including Home Improvements / Renovations.

The minimum load amount £40,000, however there is no Maximum, the maximum loan amount is 70% of valuation or purchase price, or whichever is the lower of the two figures.

Mortgages in Bulgaria are only available on a Repayment / Capital & Interest basis.

Further details at European Mortgages