We are happy to announce that for the first time in Bulgaria mortgages are available to foreign nationals who wish to purchase residential properties in Bulgaria.
This will additionaly boost the property market in our country.
The mortgage is available on qualifying properties purchased through Property BG.
Loans available for UK and Irish Nationals (and non-UK Nationals on a case by case basis) for either House Purchase or re-financing for Home Improvements. Mortgages for other purposes may also be considered - contact us for further information.
We are able to offer this mortgage product direct from First Investment Bank without mortgage broker fees. The Product Terms outlines the basic criteria for the purchase of properties in Bulgaria.
* Eligible borrowers - Every able local or foreign citizen (if the acquired property is a plot or comprises ideal parts of a plot, a local citizen should acquire the property)
* Maximum loan amount - The maximum amount of the loan depends on the needs demonstrated by the client, their sources of redemption an dthe amount of collateral.
* Currency - EUR, USD, BGN
* Maximum term - Maximum term 240 months
* Loan purpose - Acquisition of a real estate
* Interest only period - (a period when borrower pays only interest) Up to 6 months
* Minimum down payment - 20% of the market valuation of the property 30% of the market valuation of the property if it is not fully completed
* Collateral - Mortgage on a property
* Interest rate - 5.99% (BIR/ EURIBOR/LIBOR plus points) for the first year from 8% (BIR/ EURIBOR/LIBOR plus points) - more than 30% down payment
from 9.5% (BIR/ EURIBOR/LIBOR plus points)- from 20% to 30% down payment
* Penalty interest rate(in case of overdue payments) - Interest rate agreed + 20 points
* Utilization - According utilization plan
* Repayment - Equal monthly instalments during the whole loan term, after interest-only period
* Loan application and processing fee - 50 EUR
* Management fee - 2 %
* Early repayment charge - 2 % / 5 %
* Commitment fee - 0.5 %
* Renegotiation fee - 1.5 %
* Renegotiation fee - option - Paid by the Borrower
* “Property” insurance - Paid by the Bank
Property BG and our partner First Investment Bank offer you a wide range of mortgage and loan products.
For a 13th consecutive year First Investment Bank has proven that it is among the leading institutions in the Bulgarian banking sector. The Bank’s strong financial performance is due not only to improving macroeconomic indicators but mainly to the effective management of the Bank, to its innovative approach and to the professionalism, flexibility and morale of its team of employees.FIBank has shown itself to be a loyal and trusted partner for its clients and contractors in the local and international markets. European standards of banking services have long been an established practice of the Bank. 2006, yet again, was a successful year of growth.First Investment Bank AD aspires to be one of the finest banks in Bulgaria and the Balkan region, recognised as a rapidly growing, innovative, customer-oriented bank, offering outstanding products and services, ensuring excellent careers for its people, and contributing to the community. The Bank aims at developing, through sister banks and subsidiaries a regional banking network to service the business needs of the Balkan region.
# First Investment Bank provides financing for the acquisition of fixed assets, including: The purchase of enterprises or of detached parts thereof;
# The purchase of stocks and shares;
# New construction, reconstruction and expansion;
# Project financing.
For detailed information on all product and services offered by First Invetsment Bank pelase contact us on +359 2 986 3307 or Send e-mail
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