Mortgages
• Available for existing and off-plan properties
• Maximum 75% LTV
• Maximum term 25 years
• Minimum loan €40,000
• Euros only
• Rates from 6.25% pa
| Bulgarian Mortgage Details | |
| Currency | Euro only |
| Interest Rates | 6.95% |
| Repayment method | Capital & interest |
| Term | 5-25 years |
| Ages | Min 21 Max 65 on maturity of the loan |
| Loan To Value | 70% < €100,000 75% > €100,000 60% for land if correct licenses and planning permissions have been achieved |
| Loan Amounts | €40,000 min; No max €75,000 loans to 3-4 applicants; No Max |
| Multiple Properties | Unlimited |
| Nationalities | UK & Irish |
| Remortgage available | Yes |
| Notary Deed Price | At least loan amount |
| Calculations of affordability | 40% of net income - all liabilities, can sometimes do 45% |
| Rental Income | No Rental Income from the property for mortgage purposes/repayments |
| Documents needed | Self Employed - 3 years accounts, Employed - Latest P60/ 3mths bank statements/ 3mths payslips |
| Ltd Companies | Yes |
| Redemption penalties | 3%, 2% |
| Staged Payments | No |
| Bank Account | No |
| Online Banking | No |
| Notes | Married couples must apply together |
| Insurance | From nominated Insurers |
| Number of applicants | Max 4 |
| Married applicants | Married buyers own the property jointly, therefore the property purchase and mortgage application should be in joint names |
| Bank Application Fee | 1 & 2 Applicants £75 |
| Bank Application Fee | 1 & 2 Applicants £75 3 & 4 Applicants £150 |
| Valuation Fee | Variable |
| Arrangement Fee | 1% for individuals, 1.5% for ltd companies |
| Bank Legal Fees | 1.2%, max €1000 |
| Bank Mortgage Transfer Fee | £50 |
