Knight International are able to recommend mortgage lenders who will be able to advise as to whether it is viable for you to make an application for a mortgage in Bulgaria.
Points you should consider are:
- Mortgages are available for off-plan properties once they reach roof level stage of construction
- Mortgage companies will lend up to 70% of the declared notary value
- Interests rates are usually between 6.5% and 7.5%
- Mortgages terms are up to 20 years only
- Arrangement fees are between 1000 - 2000 euros approx
There are currently only a few mortgage lenders that will assist with financing property in Bulgaria. A cheaper option may be to look to raise the capital in the UK instead.
This buyer’s guide is compiled to the best of our knowledge and in good faith. E&OE