Mortgages for buying properties in Bulgaria
Acquiring a property with a mortgage is the best way to increase your investment returns.
We at Buy in BG understand this important principal and therefore we established partnership with the best Bulgarian Banks to get the most favourable mortgage rates.
Buy in BG will deal with all the necessary taxes and fees, relevant paper work, negotiations with the lender and the institutions involved. Our agents will try to match the interests of both sides – the bank and the borrower and speed up the application process. We believe that with our assistance you will get a better chance for a successful Mortgage Loan without any extra charges involved.
We will consider all the factors (e.g. whether the mortgage includes repayments fees if you choose to move the mortgage to another lender, any application fees, the ability to have under or overpayments, etc) and will help you choose the best option.
More about the Mortgages
Mortgage loans for foreign citizens in Bulgaria are available in EUR only. Typically, the maximum amount which the banks allow is up to EUR 250000 and the term of the loan cannot exceed 25 years.
The amount issued from the bank depends on the status (level of completion) of the purchased property. If the property is on level “rough construction”, the maximum amount can be up to 70% of the market valuation. If the property has permission for use – the bank can allow you up to 80% of the valuation.
Mortgages in Bulgaria are available on a Repayment (capital and interest) and Interest only.
Please note, that it is advisable to arrange your mortgage finance well, before agreeing to purchase a property. Properties can be purchased individually, in joint names or in the name of a company, if land is included in the property.
|Type of the loan||Mortgage Loan|
|Term||20 to 25 years|
|Interest rate||From 6.25 % up to 14 %|
|Age of the applicants||Up to 65 years old|
|Percentage of financing||Up to 80% of the market valuation of the real estate, if the property is fully complete; Up to 70% of the market valuation of the real estate, if the property is on a level „rough construction"|
|Collateral||First ranking mortgage of the real estate, which will be purchased |
|Own funds||Depends on the status (level of completion) of the property - minimum 20%|
|Fees and commissions||Variable for the different banks|
|Insurance||Insurance in favor of the bank for the property. The borrower has to make also, a life insurance in favor of the bank, according to requirements of other banks|
|Required documents||Please, contact us for a complete list of all required documents|