CREDITLAND is the Bulgarian Mortgage Broker, whose mission is to help you find the most suitable mortgage loan for you.

From the brokers of CREDITLAND non-Bulgarian citizens can receive the most complete information about mortgage loans on the Bulgarian market. In addition, the brokers are always at your disposal and assist you at every single step of the application process.

Loans are granted for many purposes, such as purchase of property, repair of property, building, refinancing of existing mortgage loans, and investment.

Borrowers can be either Bulgarian citizens, who work and/or live abroad, or foreign citizens.

General features of mortgage loans to foreigners:

• Loan amount - depends on the bank policy; some banks limit their loan amounts to €200,000, while others do not set maximum limits – the only limitations are based on the borrower’s creditworthiness and on the Loan to Value (LTV), which is the ratio of the value of the loan, which will finance the purchase, to the market value of the property.

• LTV - varies from 60% to 80%;

• Loan term - the maximum term for loan repayment varies between 15 and 25 years;
• Security - mortgage, cash collateral – deposit of minimum 12-month installments (interest and capital including), blocked in the bank’s debt service account, and others.

The necessary documents that banks require from foreigners are a lot, as each bank defines its own set of documents in order to investigate the borrower and his/her creditworthiness. It is important to say that banks either do or do not require that documents issued in another country be legalized before the borrower can use them in Bulgaria.

Last but not least, some banks require that foreign borrowers give contact details of a Bulgarian citizen, whom banks can call in case a problem occurs during the loan application.  Other banks need a co-borrower/co-signer, who is responsible for repaying the loan in case the borrower defaults. An application with both a contact person and a co-borrower is also possible.

The English-speaking consultants of CREDITLAND will provide you with the best mortgage loan offers and will help you apply for them with maximal efficiency – without loosing time and efforts in endless tours around the banks to explore their terms.

Contact: 

Deyan Vassilev, CEO, dvassilev@creditland.bg, cell: + 359 888 351943

Atanas Chobanov, Consultant, achobanov@creditland.bg, cell: + 359 887 240613