Sim Property provides our clients with a complete range of mortgages options in Bulgaria.
Currently it is difficult for foreigners to get a mortgage in Bulgaria:
- foreigners with no connection (eg residency or employment) in Bulgaria – can’t get a mortgage
- foreigners who also have a Bulgarian relative (or other Bulgarian person) who is willing to co-sign on the loan – can get a mortgage
- Bulgarians living abroad – can get a mortgage
- Bulgarians living in Bulgaria – can get a mortgage
Assuming you meet the residency criteria to get a mortgage typical terms are:
- 70% LTV
- 10% interest rate (usually includes obligatory mortgage insurance costs)
- 20 year terms
If you are selling your property you should contact us to find out the best way to redeem your mortgage (such advice can be critical as some banks charge very high mortgage redemption penalties in many situations).