Mortgages
Mortgages on Bulgarian properties are now available!
Send your enquiriy to mortgages@bulgaria-property.co.uk
Summary of Terms of Mortgage Loans
(These terms are subject to change)
| Loan Purpose | Purchase of completed residential property in Bulgaria |
| Currency | EURO |
| Interest Rate | 7.50%, variable |
| Loan to Value | Up to 70% of the valuation or the purchase price whichever is the lower |
| Term | 5-15 years |
| Minimum Amount | EUR 40,000. No maximum |
| Status | Full status only |
| Borrowers | All UK and Irish residents will be entitled to the product as long as they are over 21 years old and below the age of 70 at maturity of the loan. Mortgages are also available to companies against the personal guarantee of the company's UK beneficial owners. Other terms may apply for company loans. |
| Loan Security |
1. First ranking mortgage on financed property in Bulgaria 2. Pledge over company's assets (for company loans) 3. Personal guarantees of beneficial owners (for company loans) |
| Repayment Method | Capital and interest, in equal monthly instalments |
| Early Redemption Charges | For redemption of the mortgage within 3 years of completion an earty redemption fee will be charged. This fee will be 3% in the first year following completion, 2% in the year 2 and 1% in year 3 of the outstanding balance of the loan. |
| Arrangement fee | 1% |
| Building Insurance | Fire, Rood and Earthquake |
| Life insurance | Not required |
| Fees | The borrower will also be subject to legal fees and costs, as well as administration and valuation fees |
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP THE REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT.
All information is correct at time of going to press, all information can be subject to change.
citycommerce@bulgaria-property.co.uk
