Mortgages

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Due to a large volume of interest, several Bulgarian banks offer Commercial Mortgages to non-local individuals which makes purchasing a property in Bulgaria even easier. CommercialPropertyBG. have partnered with First Investment Bank, one of the biggest Bulgarian bank providing the best bank services, offer you Mortgage with exclusive conditions and requirements:

We can negotiate with the bank on your behalf leaving you free to conduct your business here in Bulgaria. Each case for Commercial mortgages is dealt with on a case by case basis and every customer is different so please be aware of this from an Investors point of view.

Commercial Mortgage Loan for Non Locals

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 and the amount of collateral.
Currency	EUR, USD, BGN
Maximum term	240 months
Loan purpose	Acquisition of a real estateInterest 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 %
“Life” insurance - option	Paid by the Borrower
“Property” insurance	Paid by the Bank

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