Mortgages in Bulgaria

Mortgage rates in Bulgaria are higher than in other European countries, and local banks provide relatively small loans.

*As of 30 January 2017, 1 US dollar amounted to 1.83 Bulgarian lev

Documents

To obtain a mortgage loan in Bulgaria, you need to submit the following documents to the bank:

• passport copy
• marriage or divorce certificate (if applicable)
• certified bank statements for the previous six months
• letter confirming the absence of outstanding loans
• letter of recommendation from the applicant's bank
• tax returns for the previous year
• payslips for the previous six months, certified by the employer
• property ownership certificate
• pre-sale property contract
• no-lien certificate for the property, i.e. proving there is no seizure or pledge

All foreign-language documents should be submitted in their original language with a translation into Bulgarian.

Loan applications usually take 1-2 weeks for approval.

Extra costs

The costs incurred by the borrower when formalising a mortgage in Bulgaria amount to about 200 leva. There are also additional life and property insurance payments of about 5,000 leva per year.