Bulgaria Property - Mortgages

Thanks to the large number of foreigner investors buying property on the coast and in the ski resorts of Bulgaria the mortgage market for foreign investors is more developed that it perhaps otherwise would be.
There are around 10 banks now offering Bulgarian mortgages to foreigners. We expect mortgages in Bulgaria to continue to improve over the coming years.

Highlights of the Bulgarian mortgage market

• 80% LTV finance is possible
  
• interest rates typically around 7%
  
• 25 year terms possible
  
• upfront costs 1.0%
  
• mortgages available for self-employed persons (at higher interest rate)
  
• self-cert mortages are available at higher interest rates
  
• refinance is available
  
• currently partial interest only mortgages are available
  

The time taken to obtain a mortgage in Bulgaria is still quite lengthy and can be bureaucratic. That said the process has improved dramatically over recent years as the banks gets more used to dealing with foreigners.
There can be hidden costs/fees when taking out a mortgage in Bulgaria.

Please contact us for a mortgage quote.

Bulgarian Mortgage Data table

Base rate	4.25%
LTV Max	80%
LTV Typical	70%
Interest Rates Typical	7%
Term Max	25 years
Term Typical	20 years
Bank Fees	1.0%
Currencies	Euro, Leva
Time taken to obtain	6-8 months
Refinance?	Yes
Self-employed?	Yes
Non-status?	Yes
Interest only?	Partial