Bulgaria: an excellent investment
‘ski resorts are now the most popular investments’
Bulgaria is already the fastest growing economy in Eastern Europe. With EU accession its long term prospects and bid to become a genuine economic power are looking bright.
unlocking UK equity!
Here’s how you can own your dream holiday home for as little as £206 per month by releasing – or unlocking – equity in your existing property. Example purchase at €72,999 or £49,324*
With a Bulgarian mortgage
• A 30% deposit of €21,900 or £14,798 would be required
• The balance of €51,099 or £34,526 would be taken as a mortgage, at a 6.7% variable rate with a monthly payment of just €387 or £261
With a British mortgage
• Your current property valued at £180,000 with an £80,000 mortgage at a 5% variable rate
• Raise £49,324 by releasing equity on your current property on an interest only basis
• Mortgage increases from £333 to £539 – a difference of only £206!
* Exchange based on €1.48 = £1 or approx £0.675 = €1. Your home may be repossessed if you do not keep up repayments on your mortgage. The Financial Services Authority does not regulate mortgages and insurance on properties overseas. Prices and figures correct at time of going to press. No mortgage offer is made through this example. Bulgaria’s property market has consistently shown price increases over the past few years and remains one of the most attractive proposals for investors. Although a relatively new market, it attracts both Bulgarian and international interest, which has been heightened by EU investment. The nature of the property market has hanged significantly in Bulgaria over the past two years as more buyers invest. The initial ‘surge to get in first’ has taken place. Now a more strategic approach to buying property is required in order to maximise investment returns. Experts believe the key now is investing in high quality product in a good location, whereas before buyers could pretty much purchase anything and get a good return on investment. If buyers put this approach into practice, Bulgaria will remain an excellent prospect for future investment.