Bulgarian Mortgages And Mortgages In ... Buy Property In Bulgaria. - Property

Buy property in Bulgaria. Bulgarian Mortgages and mortgages in ...
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A contract solely in English is not acceptable. A local tax is also charged at 2% of the purchase price. A maximum of four applicants per mortgage can be accepted. As a guide, if you earn over £15,000 per annum and have a relatively good credit record, you should be able to borrow up to €200,000. Bulgarian Mortgages and mortgages in Bulgaria. However, one lender is offering a short term fixed rate.Loans for off-plan purchases are available as are remortgages.The maximum loan to value available is 80% of the purchase price although borrowing over 70% does adversely affect the interest rate. Mortgages can be in Euros, Lev or US Dollars and the lender will take a first charge over the Bulgarian property.Mortgages are generally at a variable rate. Please note that foreigners are not currently permitted to own land in Bulgaria and it is therefore necessary for applicants to set up a Bulgarian Ltd company. The minimum loan amount is €5,000. This must be in Bulgarian or Bulgarian and English. To ensure that all formalities run smoothly, a minimum of ten weeks from application to a lender issuing an offer should be allowed for completion.Eligibility depends on income and outgoings in the UK.