Purpose

Purchase

Target customers

Individuals EU , USA and Canada citizens

Dealer

Bank branches

Currency

EUR

Selffinancing

40%

Minimum loan amount

7.500 EUR

Maximum loan amount

150.000 EUR

Maximum loan term

15 years

Age limit

23 years minimum
65 years maximum at the end of loan term

Interest rate

1,5% for the first year
7,95% standard interest

Loan management fees

Single commission of 1% at granting; 0,5% annually of the rest of the Principal

Collateral

Mortgage of the property to be purchased
Insurance of the property, covered by the bank

Insurances

Life insurance of the borrower, covered by the borrower

1.

Application form

2

Income certification documents:

2.1

For employees working under a labour agreement:
certificate of remuneration and term of labour agreement (bank form);

2.1.1.

Agreement with employer

2.1.2.

Revenue Return form (for the last tax period)

2.1.3.

A bank extract, issued by the foreign bank providing services, for the last six months.

2.1.4.

P-60 form (for the last two years)

2.2

For incomes not deriving from a labour agreement

2.1.1.

Revenue Return form (for the last tax period)

2.1.2.

An ongoing profits and costs report

2.1.3.

A bank extract, issued by the foreign bank providing services, for the last six months (personal and company accounts)

2.1.4.

P-60 form (for the last two years)

Purpose

Purchase of Bulgarian residential property;
Re-mortgage of Bulgarian residential property;

Target customers

UK and Irish residents;
Ex-pats living/working overseas who have a UK bank account/credit history

Dealer

Bank branches

Currency

EUR

Selffinancing

30%

Minimum loan amount

40 000 EUR

Maximum loan amount

Loans of up to 75% LTV on residential property (for loans over €100,000), 70% (which still applies for loans < €100,000)
No maximum loan amount;
Loans denominated in Euro

Maximum loan term

5-25 years

Age limit

21 years minimum
70 years maximum at the end of loan term

Interest rate

Lower interest rates - typically 5.95%
20% of rental income may be taken into account when assessing affordability

Loan management fees

Arrangement fee in amount of 1%

Collateral

Mortgage of the property to be purchased

Insurances

Insurance of the property /fire, flood, earthquake/

Loan applicant

Any local or foreign natural person, possessing (in cases of purchasing of regulated plot of land or an ideal part of integrated plot of land, part of a real estate, the foreign natural person shall be owner of a local company, which shall acquire the real estate)

Maximum amount

Unlimited

Loan currency

BGN, EUR, USD

Maximum repayment period

240 months

Loan purpose

Purchase of a real estate

Grace period

up to 6 months

Percentage of the amount, covered by the loan

up to 80% of the market value of the real estate
up to 70% of the market value of the real estate, having Act 15

Collateral

- Mortgage of the real estate, subject of the purchase deal or other real estate

Annual interest rate

5.99% (BIR/EURIBOR/LIBOR+add-on) for the first year of the loan period
from 8% (BIR/EURIBOR/LIBOR+add-on) in cases of financing of up to 70% of the market value
from 9.5% (BIR/EURIBOR/LIBOR+add-on) in cases of financing from 70 to 80% of the market value

Penalty interest rate in case of default event

the interest rate agreed + 20 %

Drawdown

in accordance with the drawdown plan

Repayment scheme

equal monthly instalments after expiration of the grace

Fee for preliminary documents approval

50 EUR

Single management commission 

2 % 

Commission for pre-term repayment 

2 % / 5 % 

Commitment commission 

0.5 % 

Renegotiation commission 

1.5 % 

Life Insurance - an option  

paid by the Borrower 

Real estate insurance 

paid by the Bank 

Incomes of the Loan applicant 

1.50 of the monthly installment due