Financing the purchase of the property may take several forms depending on the circumstances. For example:

·        a  first (or second) mortgage on your existing UK property

·        a mortgage on the Bulgarian property from a Bulgarian lender

 Bulgarian mortgages do not follow the same pattern as UK mortgages secured on UK properties.

The loan is usually limited to 70% of the assessed value of the property- our experience is that it is usually nearer 60% of the true value-and by the capacity of the borrower to repay the loan, strictly calculated in accordance with Bulgarian rules that are very different from our own. Standard repayment mortgages (where you repay both capital and interest) are the norm, though interest only mortgages are available from some sources. The term is usually shorter than a UK mortgage – typically 15 -20  years.