Advices

ADVICE #262

How to receive a mortgage in Bulgaria?

Making mortgage in Bulgaria can take a lot of time: candidates make run around different instances, stay in line, and in general, drown you in paperwork. To avoid this, you can contact one of the law companies dealing only with mortgage. A lawyer will cost on the average 2400 lev (about 1200 Euros). We must add to this the registration fee of 400-600 lev (200-300 Euros), which is not refundable if the loan is not approved.

 

Mortgage loans are provided to foreigners not by all Bulgarian banks. Among those who are the most loyal to foreign clients are Bulbank, DSK Bank, First Investment Bank, Invest Bank (I-Bank) and United Bulgarian Bank (UBB). The main condition of the mortgage is an income statement for the last three months, and "pure" credit history. Extract from the bank for the last six months, copy of passport, proof of current address of residence, certificate of employment, certificate from the employer on payment of taxes over the last year, and the bank statement must also be among the documents. In some cases, you may be asked to confirm the fixed annual income (from 10-20 thousand Euros).

 

If you have a credit history in Russia, a bank may provide a credit for 80% of the cost of housing for a period of 25 years. Mortgage rates will be 7.5% -9.5% per annum. Term of consideration of application can take up to four months.

Болгария

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