Mortgages

Many Bulgarian banks offer mortgages for foreign buyers to purchase property in Bulgaria. We will be happy to advise you which banks and to put you in touch with them as well as assist with any documents which need to be supplied locally in Bulgaria.

The mortgage services have developed a lot during the last four years and the banks now are more flexible however be prepared to provide more papers than usually needed for a UK mortgage. The reason for this is that the Bulgarian bank system suffered from significant crisis in the 1990s. As a result the Bulgarian National Bank introduced very strict rules which aim to guarantee stability of the financial system.

Please bear in mind that funding a purchase of a property in Bulgaria with a mortgage should be considered prior to viewing and you should advise the agent of your intention so that any possible delays can be taken into account. This will help us negotiate conditions of the deal and avoid any problems.

What are the mortgage conditions currently offered by the banks?

• Term up to 25 years;
• Loan currency – BGN, EUR or USD;
• Maximum amount of the loan – 50% of property market value for residential property;
• Interest rates – from 8% up to 14% depending on the lending bank, loan currency and your personal circumstances;
• Age of the applicant – most common requirement is 21 years minimum and 65 years maximum at the final repayment
• Proof of income is required in all cases.