Mortgages

*Terms and conditions:

• Eligible borrower is every local or foreign citizen of legal age.
• The minimum monthly income for each family member should be 500 € for adults and 250 € for children;
• There is no maximum loan amount
• Currency - EUR, USD, BGN
• Purpose of the loan is acquisition of real estate
• The interest-only period is up to 6 months
• The minimum downpayment should be 20% of the market value of the property if it is completed or 30% of the market value of the property if it is not fully completed yet (Protocol No15)
• Collateral – mortgage on a property
• Interest rate:
  

- from 6.9 % (BIR/EURIBOR/LIBOR plus points) - if the downpayment is more than 30%;
- from 8.4 % (BIR/EURIBOR/LIBOR plus points) - if the downpayment is between 20% and 30%

• The penalty interest rate in case of overdue payments will be the interest rate agreed plus 20 points.
• Utilization – according to the utilization plan
• The repayment of the loan is made in equal monthly installments during the whole loan term after interest-only period
• The loan application and processing fee is 50 €
• The management fee is 2%
• Early repayment charge is 2% / 5%
• Commitment fee is 0.5%
• Renegotiation fee is 1.5%
• Life insurance is optional and is paid by the Borrower
• Property insurance is paid by the bank

*Required Documents:

• The following documents must be apostilled:

• Credit history report (Experian Scorex, Equifax) for all United Kingdom citizens;
• Income documents required:

- For employed applicants/co-applicants:
1. P-60 Form (required);
2. A letter from the employer stating the applicant’s gross income (recommended);
3. Bank statements for the last three months

- For self-employed applicants/co-applicants:
1. An accountant certificate for the previous year or the income tax return;
2. Bank statements for the last three months;

- For applicants receiving rental income:
1. Bank statements for the last three months;
2. Lease contract in case that the rental income is not shown in the Tax Return;

• The same documents are required from all applicants who are not UK citizens

Detailed information about the Bulgarian towns and cities

Central Southern Bulgaria Batak, Bratsigovo, Peroushtitsa, Pazardzhik, Koprivshtitsa, Sopot, Karlovo, Kalofer, Hissarya - spa resort, Plovdiv, Asenovgrad, Chepelare, Smolyan, Devin, Pavel Banya, Kazanluk, Stara Zagora, Chirpan, Dimitrovgrad, Haskovo, Kurdzhali

Southeastern Bulgaria Svilengrad, Elhovo, Yambol, Sliven, Kotel, Karnobat, Aitos, Malko Turnovo

Northwestern Bulgaria Berkovitza, Chiprovtzi, Belogradchik, Vidin, Kozlodui, Oriahovo, Montana, Vratsa, Mezdra, Botevgrad, Etropole, Yablanitza, Cherven bryag, Loukovit, Lom

Central Northern Bulgaria Teteven, Troyan, Apriltzi, Lovech, Pleven, Nikopol, Svishtov, Pavlikeni, Sevlievo, Gabrovo, Tryavna, Dryanovo, Elena, Veliko Turnovo, Gorna Oryahovitsa, Byala, Rousse

Southwestern Bulgaria Petrich, Sandanski, Gotse Delchev, Bansko ski resort, Razlog, Blagoevgrad, Doupnitsa, Samokov, Kyustendil, Pernik, Pirdop and Zlatitsa, Panagyurishte, Kostenets, Velingrad

Northeastern Bulgaria Pliska, Shoumen, Veliki Preslav, Turgovishte, Razgrad, Toutrakan, Silistra, Dobrich, Provadia

Bulgarian Black Sea Coast Shabla, Roussalka, Kavarna, Balchik, Albena, Zlatni Pyasutsi (GOLDEN SANDS), St. St. Konstantin and Elena, Varna, Kamchia, Obzor, Elenite, Slunchev Bryag (SUNNY BEACH), Nessebar, Pomorie, Bourgas, Sozopol, Dyuni, Primorsko, Kiten, Tsarevo, Ahtopol

Bulgarian Mountains Rila, Rila Monastery, Borovetz, Malyovitza, Pirin, Melnik and The Rozhen Monastery, Shiligarnika, Stara Planina (The Balkan Mountain), KOM - Emine Route, The Rhodope Mountains, Pamporovo, Bachkovo Monastery, Shiroka Luka, Vitosha