Bulgarian Mortgages

Bulgarian Property Advisors Ltd would like to represent you Piraeus Bank , one of the largest commercial banks in South-Eastern Europe,  established in Greece in 1916.

Piraeus Bank has 277 domestic and overseas branches and a number of subsidiary companies as well as banking institutions in the USA, UK, and the Balkans.

Piraeus Bank's presence in Bulgaria is constantly expanding and so is the Bank's knowledge and affinity with the country. The Bulgarian property loans are one more indication of the Bank's commitment for investing in the country.

For further information, please contact: mortgages@piraeusbank.co.uk

Please find the mortgage details explained below:

Summary of Terms of Mortgage Loans
(These terms are subject to change)

Loan Purpose

Purchase of completed residential property in Bulgaria

Currency

EURO

Interest Rate

7.00%, variable

Loan to Value

Up to 70% of the valuation or the purchase price whichever is the lower

Term

5-15 years

Minimum Amount

EUR 25,000. No maximum

Status

Full status only

Borrowers

All UK and Irish residents will be entitled to the product as long as they are over 21 years old and below the age of 70 at maturity of the loan. Mortgages are also available to companies against the personal guarantee of the company's UK beneficial owners. Other terms may apply for company loans.

Loan Security

1. First ranking mortgage on financed property in Bulgaria
2. Pledge over company's assets (for company loans)
3. Personal guarantees of beneficial owners (for company loans)

Repayment Method

Capital and interest, in equal monthly instalments

Early Redemption Charges

For redemption of the mortgage within 3 years of completion an early redemption fee will be charged. This fee will be 3% in the first year following completion, 2% in the year 2 and 1% in year 3 of the outstanding balance of the loan.

Arrangement fee

1%

Building Insurance

Fire, Flood and Earthquake

Life insurance

Not required

Fees

The borrower will also be subject to legal fees and costs, as well as administration and valuation fees.

YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP THE REPAYMENTS ON A
MORTGAGE OR OTHER LOAN SECURED ON IT.
All information is correct at time of going to press, all information can be subject to change.

Contact us:

+44 (0) 845 226 0742 or info@bg-properties.co.uk