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Bulgarian Properties MortgagesA couple of years ago BULGARIAN PROPERTIES was one of the first real estate agencies in Bulgaria to start offering foreign buyers a Bulgarian mortgage.

However, in the conditions of a financial crisis the banks have introduced stricter requirements to their clients regarding mortgage loans. At this stage Bulgarian banks have limited the financing both to foreign and Bulgarian property buyers. However, foreign citizens are seen as clients which fall into a riskier group compared to Bulgarian clients. In view of the global situation this way Bulgarian banks protect themselves as well as the whole banking sector from future unfavorable conditions.

Main requirements to the property
A main requirement of the banks is the property to be finished (with Act 15 or Act 16). Financing in an earlier stage is not possible. The location of the property is also very important. Properties in the big cities are quite attractive both to investors and banks which means there is a greater chance to receive a loan for such property. Compared to previous periods the self-participation percentage on the part of loan applicants has increased. Currently banks provide financing up to 60% of the property’s price.

For more information and advice regarding a specific property you can our mortgage specialist Galya Zlatanova and we will be glad to find out the details for you and provide you with accurate information and guidance.

Enquiry Form
If you would like to apply for a mortgage product, please click here to fill in the form.

The documents you will need to submit vary from lender to lender, but as a rule, you will have to supply at least the following:
• Copy of passport and proof of permanent address
• Certificate of marital status (wedding or divorce certificate) if applicable
• Bank statements from the last 6 months
• Pay slips from the last 3 months and a referral letter from your employer
• Referral letter from your bank
• Two most recent P 60 tax declarations

Self employed applicants will also be required to supply copies of their most recent tax return.
Documents will need to be legalized according to your country’s official procedure.

The property documents required (from your agents) are as follows:
• Title deeds
• Preliminary contract
• Document showing the taxation value of the property
• Certificate showing the property is free of any encumbrances

Additional documents may be required, depending on which lender you choose.

Our Charges
Apart from the charges indicated by each lender, BULGARIAN PROPERTIES charge a fee of 300 Euros (₤200) which will cover all your legal, administration and document fees in Bulgaria. For clients buying property though an agency apart from BULGARIAN PROPERTIES, we charge 500 Euros (₤340). There will also be a government tax of around 150 Euros (₤100) payable to a Notary upon signing the mortgage agreement.
Our fee is payable when your application is submitted. If the application is refused, or you change your mind, we reserve the right to withhold 120 Euros (₤80) as an inconvenience fee.

Apart from providing assistance with mortgage loans we also offer full assistance for the property’s insurance. We can also offer you additional financial services upon request on your part.

Our mortgage expert featured in A Place in the Sun Magazine, January 2010

For more information, please contact our mortgage specialist Galya Zlatanova directly.


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