| pirin golf mortgage |
Author : Gordon (---.lns6-c11.dsl.pol.co.uk)
posts : 58
Date : 07-30-08 22:58
i have bought a 2bed apartment at pirin golf. i am going to rent it out.what do you think of bulgarian mortgages and what is your thoughts on starting a bulgarian company? has anybody else bought at pirin golf and your thoughts on the development?
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| re: pirin golf mortgage |
Author : Peter of York (---.seac.broadband.ntl.com)
posts : 24
Date : 07-31-08 02:33
See here -
http://beachbulgaria.com/story/GENERAL+DISCUSSION/ITV+8pm_119982/index.html
The development company MRI got really slammed. Apparently the word 'golf' is meaningless, the apartments have no access to any golf courses. Find a get out clause if you can.
Peter
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| re: pirin golf mortgage |
Author : philip foster (---.belf.cable.ntl.com)
posts : 3
Date : 07-31-08 10:21
yes watched a programme on itv on monday past. hope u havnt been told u r over looking golf course and that u have access to course, as the course is private and not opened 2 the public r pirin golf owners
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| re: pirin golf mortgage |
Author : philipf (---.belf.cable.ntl.com)
posts : 340
Date : 07-31-08 10:21
test
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| re: pirin golf mortgage |
Author : Welshy (---.range86-141.btcentralplus.com)
posts : 248
Date : 07-31-08 21:45
Hold on there from the site name of the 1st poster it sounds similar to mine - which if thats the case then its inside the complex.
One simple question to answer - Is it being built by Balkenstroy or not ? If its not then its outside & those views across the golf course now has mature trees planted totally blocking the views.
In many respects I think its right that they have done this as the other companies were getting benefits from the views with none of the outleigh - and pushed their luck too far...
When I first signed over 2 years ago it always stated that only owners or those staying within the complex could use the course & other facilities. In fact your encouraged to become a member as if your not then its 1st pref to the members to book tee off times then its first come first served.
Back to the original question - what about mortgages?
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| re: pirin golf mortgage |
Author : philipf (---.belf.cable.ntl.com)
posts : 340
Date : 07-31-08 23:35
i think welshy u r in 4 a big disapointment. unless u liked been conned. the people on the interview on the television were demanding their money back as they thought they could use the golf course. but have now found out they cant....
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| re: pirin golf mortgage |
Author : philipf (---.belf.cable.ntl.com)
posts : 340
Date : 07-31-08 23:36
i think welshy u r in 4 a big disapointment. unless u liked been conned. the people on the interview on the television were demanding their money back as they thought they could use the golf course. but have now found out they cant....
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| re: pirin golf mortgage |
Author : Gordon (---.lns6-c11.dsl.pol.co.uk)
posts : 58
Date : 08-01-08 00:00
I have bought inside the golf course. This is called Pirin Golf & Country Club. I was missold a property before I bought in Pirin Golf. It was called Corelia (i think). Was told that i was on the golf course and would have access to golf course. After research found out this information was false and got deposit back - then went directly to Pirin Golf.
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| re: pirin golf mortgage |
Author : Mos (---.beltpacker.com)
posts : 132
Date : 08-01-08 16:09
I have it in my contract that as a Pirin Golf and Country appartment owner, I have exclusive rights to the golf course. Those outside of the complex i'm afraid do not!
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| re: pirin golf mortgage |
Author : philipf (---.belf.cable.ntl.com)
posts : 340
Date : 08-02-08 01:13
check again the tv programme says that it is in the contract but the contract isnt with the golf course
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| re: pirin golf mortgage |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 08-18-08 14:28
philipf - my apt is inside the golf course Pirin District 1.
Its within the Golf course and the contracts which I have read through with my lawyer (and due to this specific issue raised I made sure that this was the case with the golf) and within the complex you have sole use of the Golf course. I have a contract to become a member of the course which would give me pref over tee times over those other owners who just fancy a game during their stay.
I am using Balkenstroy for my furniture & using them as my letting agents.
A friend of mine has bought outside the golf course and at the time it seemed great with views over the 9th hole & use of the golf course however as it turns out they have no view of the course nor of the mountains & possibly own an asset which is totally worthless/unsellable - ITS A SHAME BUT THATS THE REALITY they were cheaper.
Anyway why has noone answered the question about the mortgages?
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| re: pirin golf mortgage |
Author : Gordon (90.241.138.---)
posts : 58
Date : 08-18-08 23:51
What made you pick Balkenstroy for your letting agents? I have rental contract through from Pirin Golf & Country Club Management. Do you get a guaranteed rental income with them? What is the price of their furniture packages like?
We have bought in Pirin III. Have you been told when your apartment will be ready?
No-one seems to be answering question on mortgages!! Would just like to know if anyone else has taken on of these out and which Bank they have taken it out with.
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| re: pirin golf mortgage |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 08-19-08 11:46
Well Ive not bought any furniture as yet just sussing it out.
Pirin District 1 was supposed to be completed by Sept 14th however this has now been delayed until Dec14th so a Balkanstroy told me. I have sent repeated emails to Legal independance asking about this and no response for the past few weeks.
Personally I have a studio and the prices quoted are E6k but with a renatl guarentee for 1 year but I think it makes more sense to use the developer which does seem to have top end kit & will be using idential furniture in other studios across the complex so if one thing gets broken its easily replaced.
MRI and others are all possibilities.
With Mortgages Its a real struggle to get cash currently so really I think the only way to do it is to release equity in the UK (I hope noone has bought and no longer has any equity remaining as they might be about to lose all that they have put into the bulgaria venture due to failure to stump up the extra cash).
Anyone in this for the short term i.e. sub 10 years may just not be able to sell at any price!!!
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| re: pirin golf mortgage |
Author : john (---.plus.com)
posts : 689
Date : 08-21-08 22:35
Mortgages for Pirin Golf are available - you have to shop around. Normally terms and conditions apply, but this is everywhere now. You may not expect Spanish crazy 100% from 2006 with the small script that makes many suffer now.
Shop around but don't delay. Usually it takes 10-14 weeks on average for approval. Pirin Golf phase I is 2-3 months before completion (Pirin - I, Pirin - III , Downtown and the Lake) .
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| re: pirin golf mortgage |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 08-22-08 11:27
Could you give some suggestions as to possible banks as I dont really know where to start.
Ideally id want a UK based bank/actual branch I could go into or call up in the UK on a UK phone number.
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| re: pirin golf mortgage |
Author : Gordon (90.241.138.---)
posts : 58
Date : 08-22-08 16:44
We have got mortgage through DSK Bank and will be opening a bank account with them. They have internet banking so will be able to do a lot of the banking from home. We were put on to them through a company called Fresh Credit. We were advised to use them for our mortgage. They are based in Bulgaria but have an office in London.
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| re: pirin golf mortgage |
Author : john (---.plus.com)
posts : 689
Date : 08-23-08 18:19
Hi Gordon,
Tried to find this company Fresh Credit Sofia on the internet - no success. If they provide better rates from DSK how can we contact them?
John
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| re: pirin golf mortgage |
Author : Onmybumski (---.range86-134.btcentralplus.com)
posts : 1143
Date : 08-24-08 09:56
One point I would raise is be carefull about the renting option. Our family looked at Pirin Golf a while back but were put off by the "small print" a couple that I remember were..
1. If you take the 12 month Guarenteed rental option you can use your apartment for a "limited period" ...they tell you when you can use it in the first year. Or when you can use it if you extend beyond the 12 month period.
2. If you do not take up there inflated furniture pack deal, then the apartment may not meet the required standard and therfore they will not act as agents (Central Management System)
If you buying to rent and there are a few of you on the forum, why not set up a cheap internet site between you and advertise all you apartments on one page / site. skiers and golfers mostly go away in groups and often need a few apaartments. just an idea.
Good luck but in the words of Peter Jones....I'm out.
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| re: pirin golf mortgage |
Author : Jim (---.bb.online.no)
posts : 148
Date : 08-24-08 19:22
People should view rental income as a bonus not something to be relied on
Jim
Bulgarian Propertyhttp://www.bulgariasfinest.com
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| re: pirin golf mortgage |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 09-02-08 18:12
Gordon - I have tried that London tel number and looked on the website and the numbers dont work either UK or Non Uk numbers!
Are there any other UK based Bulgarian mortgages providers? Who else can you go to?
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| re: pirin golf mortgage |
Author : Gordon (---.tcl124.dsl.pol.co.uk)
posts : 58
Date : 09-03-08 23:52
hi Welshy, you need to put 00 in front of the number. That should work. Dont know any other mortgage UK providers. I just went with the advice and recommendation of the company that we had bought property through.
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| re: pirin golf mortgage |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 09-04-08 10:24
Phoned a few others and the huge fees the Bulgarian Banks charge is shocking i.e. for say a E36k mortgage they with broker fees want upwards of £3k (sterling) in fees.... to be frank given that high level of fees equity release in the UK and paying the poor exchange rate is FAR FAR more financially beneficial
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| re: pirin golf mortgage |
Author : Gordon (---.tcl124.dsl.pol.co.uk)
posts : 58
Date : 09-04-08 23:09
I am about 2000 Euros in total for fees. This is better than releasing equity back home cause to transfer over the balance i am due to pay it would cost me between £8,000 and £9,000 with the Euro rate
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| re: pirin golf mortgage |
Author : Adrian Hopkins (---.wfd84a.dsl.pol.co.uk)
posts : 7
Date : 09-09-08 21:42
Hi Welshy, I have bought in Pirin 1, i am taking out a Bulgarian mortgage through UBB Bank, Daniela from Balkanstroy sorted out everything for me, i paid no broker fees because she referred us. I can give you her Email if you want. What Block in Pirin 1 have you bought and what part of Wales are you from.
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| re: pirin golf mortgage |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 09-11-08 13:06
Hi adrian - that would be very helpfull.
Im a little concerned at how close to completion it is and not having sorted out finance yet!!!
Its in district 1Block B, no longer in Wales  now in the bg Smoke.
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| re: pirin golf mortgage |
Author : mike y (---.pool1.unallocated-107-0.orangehomedsl.)
posts : 11
Date : 09-11-08 21:20
in BG generally,
if you say you want mortgage for holiday home, everybody in the financial circles will turn away because they know very well the score: that it will be too risky to try to sell if payments aren't met and they have to step and try to shift it.
And to who? that is the BIG question.
So Try to finance whatever left with your own savings rather banks.
as for rental -have a look into similar appartments blocks places in Pamporovo Bansko and now joining Borovets and join their blogs to find out that BG rental is just maybe to cover your running costs if you are lucky.
plus the dodginess going on with flats on paper not being let so the owners have no incomings, but actually with some checks, finding out that places were rented just for cash at reception with nobody knowing anything. 
it was wide spread on the beach this season-
say if you want a flat for few days at peak time -with a little chat at the reception -no more than 5 minutes,you get into 4-5* place for cash, use everything there and only for 60euros a room.that is for first lines places with private owners appartments-for the 2nd and futher in places nobody wants to go there anyway.
Nice business if you were independant tourist this summer.
accountancy levels are below any standard and wont improve for a long time.
At the end of the day ,the builders knew that this is the way: after they shift the flats,to continue the banknotes's printing business.
So be on alert even when everything seems honky dory.
it was this summer, I repeat and wide spread.I know af 15 people done exactly the same with no problems for their families-just 5 minute and Coming Please!
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| re: pirin golf mortgage |
Author : Mike C (---.range86-135.btcentralplus.com)
posts : 1
Date : 10-04-08 14:38
Hi Adrian,
I have also bought in Pirin 1 and would be very grateful if you could forward on any contact details you have for finance options. I am part of a group, who have bought 10+ properties in the District 1 and can't wait to get over there and enjoy.
Look forward to hearing from you.
Mike C
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| re: pirin golf mortgage |
Author : Welshy (---.scansafe.net)
posts : 248
Date : 10-10-08 11:09
Im going out there 7th Nov to inspect district 1.
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