Mortgages in Bulgaria
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Mortgage rates in Bulgaria are higher than in other European countries, and local banks provide relatively small loans.
Maximum loan amount | |
Maximum loan sum | 300,000 lev* |
Fixed rates | |
Loan term | 5 to 20 years |
Minimum age of borrower | 21 |
Maximum age of borrowerby the end of the loan term | 60 for men and 65 for women |
Documents
To obtain a mortgage loan in Bulgaria, you need to submit the following documents to the bank:
- passport copy
- marriage or divorce certificate (if applicable)
- certified bank statements for the previous six months
- letter confirming the absence of outstanding loans
- letter of recommendation from
the applicant's bank - tax returns for the previous year
- payslips for the previous six months, certified by the employer
- property ownership certificate
pre-sale property contractno-lien certificate for the property, i.e. proving there is no seizure or pledge
Loan applications usually take
Extra costs
The costs incurred by the borrower when formalising a mortgage in Bulgaria amount to about 200 leva. There are also additional life and property insurance payments of about
Property appraisaland Due Diligence | |
Compulsory property insurance | About 1,000 levaper annum |
Compulsory applicantlife insurance | About 4,000 levaper annum |
Mortgage arrangement fee | |
Early repayment penalty |
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Property buying guide for Bulgaria
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