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Sat, Feb 11 2012
Mortgages for foreigners and Bulgarian expats back on the market
Mortgage loans for foreign nationals and Bulgarians working abroad are back on the Bulgarian banking market in response to reviving demand, banks and credit consultants said.
Tihomir Toshev, executive director of credit consultant Credit Center, said interest in this type of loans was zero at the time when the crisis was at its worst, forcing lenders to withdraw such offers.
Other consultants say that banks are imposing new requirements, such as targeting borrowers from specific nationalities and financing the purchases of a property whose construction the lender has backed.
UniCredit Bulbank said on July 13 2010 that it had launched mortgages for foreigners and Bulgarians working abroad, who could choose from among a list of 22 projects financed by the bank.
Source: Dnevnik.bg
Tihomir Toshev, executive director of credit consultant Credit Center, said interest in this type of loans was zero at the time when the crisis was at its worst, forcing lenders to withdraw such offers.
Other consultants say that banks are imposing new requirements, such as targeting borrowers from specific nationalities and financing the purchases of a property whose construction the lender has backed.
UniCredit Bulbank said on July 13 2010 that it had launched mortgages for foreigners and Bulgarians working abroad, who could choose from among a list of 22 projects financed by the bank.
Source: Dnevnik.bg
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Mortgages: European Commission proposes rules to better protect consumers
Borrowers will enjoy a higher level of protection through robust rules concerning advertising, pre-contractual information, advice, creditworthiness assessment, and early repayment, the European Commission said on March 31 2011.
UniCredit's H1 pre-tax profit from Bulgarian operations drops 36 per cent to 26.1 million euro
In a consolidated half-year financial report on its website, UniCredit Group said 'as a market leader in Bulgaria, UniCredit Bulbank has total assets of 5.7 billion euro. Customer deposits grew by 4.1 per cent year-on-year to 3.4 billion euro, mainly driven by growth in retail deposits'.
Bulgarian banks raise interest rates on euro mortgages
The interest rates on Bulgaria’s housing mortgages have increased for both lev and euro currencies in June 2010, according to the latest Bulgarian National Bank figures.
Gate-keepers and toll collectors
Proposed regulations in the EU and US seek to curtail the influence of credit rating agencies, but will the new rules have any impact on one of the most entrenched sectors of the financial industry?
Central database to register defaulting debtors
The number of defaulting debtors was increasing and banks were said to be in no mood to become real estate agents.
Number of mortgages given by Bulgarian banks increases
The total volume of mortgage loans given by Bulgarian banks increased in January 2010 as more deals were struck in small towns, according to estimates by credit consultants Credit Centre.
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Be aware taking house loans in Bulgaria. Recently been declined by Postbank for a 50% loan. The was classified by the bank as village cottage. If was town then not a problem. Was intend to 50% my self and 50% loan. Have a salary almost 3x average BG salary and still decline!?
It's not that easy if you might think!
i want to move from ireland to bulgaria what you think
many Brits still want to invest in BG...also many want to do a runner from UK debts
Money rules.
the bank must have loaned money for these certain developments and now the want to shift that loan off their balance book,turn it into mortgages that they can repackadge and sell.
jks - looks like about 10.5% < in euro funds. Info taken from their website.
"The interest* under the Euro loans is 10.10% per annum. The maximum term of the provided mortgage loans is: up to 20 years for foreign citizens and up to 25 years for non-resident Bulgarian citizens as to the final maturity date of the loan the borrowers must not be over 60 years - for the women, and 65 years - for the men.
*APR = 11.6414 % upon a loan term of 20 years, loan amount EUR [...]
Read the full comment 25 000, with included payment for a property insurance by Generali, offered by the bank".
No foreigners exept for russinans wont to invest in Bulgaria. It's all over. Bulgaria have so much bad press all over the internet, news sites, forums and blogs that no one want to invest. Just try to find one lucky investor to post on this forum.
This comment has been removed by the moderator because it contained foul, abusive or discriminating language
"financing the purchases of a property whose construction the lender has backed" - beware of bankers bearing gifts! They're looking for useful idiots to join the card game.
What is the list of nationalities the mortage is available? Or it is just a advertising?
so are the interests rates still exorbitant or are they now reasonable?
"such as targeting borrowers from specific nationalities"
actually.. I think this is called "discrimination".