Bulgaria Ski discussion board
bulgarian mortage nightmare
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posts : 13 (Beginner)Date : 04-23-09 22:37bulgarian mortage nightmare
Having big problems getting bulgarian mortgage, had my bulgarian mortgage accepted in February but Pirin Golf did not have all the relevant papers available for the mortgage therefore my mortgage expired. The Bank are now not lending to foreign investors. Pirin have came up with a finance offer which is to pay the 75% of purchase price within 1 year. Is anyone else having problems like this? Can anyone let me know of a Bank that is still lending? My circumstances have never changed with ...
Having big problems getting bulgarian mortgage, had my bulgarian mortgage accepted in February but Pirin Golf did not have all the relevant papers available for the mortgage therefore my mortgage expired. The Bank are now not lending to foreign investors. Pirin have came up with a finance offer which is to pay the 75% of purchase price within 1 year. Is anyone else having problems like this? Can anyone let me know of a Bank that is still lending? My circumstances have never changed with the credit crunch and am very frustrated with this.
re: bulgarian mortage nightmare
Sorry to hear about your troubles, same happened to me with St Ivan Bansko, i had to revert back to Ireland for a mortgage, Best of luckre: bulgarian mortage nightmare
hi,This is very worrying I'm still waiting to hear about my bulgarian mortgage. Am I likely to be be refused? Any got any more info.
re: bulgarian mortage nightmare
If you're buying off plan, almost certainly you will not get a mortgage. If you are buying a completed apartment you will probably have to accept a lower valuation (and thus stump up more cash yourself). Interest rates here are also fairly eye watering at the moment so you may be better off getting a UK mortgage anyway - although that does put you at the mercy of exchange rate fluctuations.Be wary of mortgage brokers promising deals especially if they want up front fees.
re: bulgarian mortage nightmare
I have bought one of mine outright (UK equity release luckily for me during the 1.49:£1 & high UK prop values however come Q2/Q3 next year I need to find E30k I can do this from the UK however I would like to have the debt on the actual asset not debt free ut there and mortgaged higher in the UK - but I will see how this pans out it will depend on what the exchange rate does as I could release equity from the 100% mortgage free one to the not yet complete one (but it will be complete come ...
I have bought one of mine outright (UK equity release luckily for me during the 1.49:£1 & high UK prop values however come Q2/Q3 next year I need to find E30k I can do this from the UK however I would like to have the debt on the actual asset not debt free ut there and mortgaged higher in the UK - but I will see how this pans out it will depend on what the exchange rate does as I could release equity from the 100% mortgage free one to the not yet complete one (but it will be complete come the time I need the mortgage - final payment).
I'll keep my eas wide open for anyone else going for mortgages with Bulgarian banks in the interim & wait see how they get on. One thing though I find it so much easier with a Big UK/Global bank with UK offices with British/English speakers who understand the model your going for vs a very young investing market in Bulgaria.
I'll keep my eas wide open for anyone else going for mortgages with Bulgarian banks in the interim & wait see how they get on. One thing though I find it so much easier with a Big UK/Global bank with UK offices with British/English speakers who understand the model your going for vs a very young investing market in Bulgaria.
