Bulgaria Mortgages
A Bulgaria mortgage will be a prime consideration for those buying property for sale in Bulgaria. Mortgages in Bulgaria have developed considerably over the last few years and may be subject to changing conditions, so it is vital to obtain up-to-date Bulgaria mortgage information from your legal adviser.
As a general guide, Bulgaria mortgage rates start at around 6% and capital repayment and interest only Bulgaria mortgages are available. Mortgage terms are around 25 years or age 70 and the maximum amount available is in the region of 75% of the property price. A percentage of guaranteed or certifiable rentals can now be included when assessing a Bulgaria mortgage application.
Bulgaria Tax
Buying property in Bulgaria is not necessarily the same as buying in the UK or Ireland and you should take independent legal advice, particularly with regard to Bulgaria tax information. Taxes and fees involved in the purchase process of Bulgaria real estate are low. As a general guide, you should allow between 3 and 4% of the purchase price to cover taxes and fees associated with the purchase of Bulgaria property. These include 2% Bulgarian state tax, similar to stamp duty. Property buyers in Bulgaria require a local tax number and property owners may be liable for local and state taxes. For further Bulgaria tax information, click here to download the Bulgaria Land and Property Investment Guide.
