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Drawing an Early Pension

Taking Early Retirement in Bulgarian countrysideResearch from Scottish Widows recently found that most high-rate taxpayers were thinking of emigrating to a warmer climate on retirement and this trend is expected to increase. If you dream of a life in stress-free Bulgaria but are hanging on until you reach retirement age, think again.

New offshore pension funds now allow expats who have lived abroad permanently for the last five years to draw their pension at any age. Quest Bulgaria explains how.

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Be Canny with Currency

canny with currencyImagine this scenario. You decide you need a new car. So you go down to the local garage, because it’s the closest and most convenient, and they have one in stock. You ask how much it is but they are a bit vague, they just say ‘about £10,000’.

You want to check whether you could get it cheaper elsewhere, so you pop into another couple of garages. But they won’t tell you how much their cars are at all unless you open an account with them and come back with the ready cash. The first one looks OK and it will do the job, so you agree to buy it.

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Money Matters

money mattersBanking and money issues in Bulgaria are completely different to those back home. Bulgaria is a country where credit and credit cards are still novel and exchange rates can vary from one institution to another like the wind. A popular scam is the pleasant well-spoken English speaking Bulgarian who offers you a phenomenal exchange rate on the street corner.

There are numerous tales of this happening and ending in tears. One expat exchanged GBP 500 with one such shark only to receive a bundle of outdated Russian rubles. Other expats think that if they use one of the many exchange bureaus offering good rates they will avoid such fiddles, but this is not always the case.

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Foreign Property Mortgages - 8 things to consider

mortgages house and coinsAs the foreign property market continues to mature, here are eight important things to consider for a mortgage. Obtaining a mortgage on any foreign property allows you to buy a property more expensive than you might otherwise be able to afford and maximises your investment return by allowing you to use the bank's money rather than your own. However, there are several things you must consider when wishing to use a mortgage to buy property in Bulgaria.

Initial Advice- Make sure you take advice from professional mortgage advisors. Mortgage advice is often offered by the estate agent; feel free to listen to this but make sure you check the advice with the experts.

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Snagging List - Worthwhile?

As the Bulgarian property market continues to mature, we are now witnessing a host of secondary services enter the market, we take a look at a professional snagging list. Whilst prices in Bulgaria are relatively cheap compared to the likes of Spain and Portugal, all off-plan properties have one thing in common - they should be viewed a number of times before the final payment is made. Surveyor and Snagging ReportsOne of these visits is to ‘snag’ the property for any building/finishing irregularities.

You usually only have one opportunity to ‘snag’ your property before the developer officially hands it over to the owner.

It is true that you could ‘snag’ your own property but consideration needs to be given to the following:

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How to Finance a Second Home Purchase

Want to know how to finance a second home purchase? Here are some great tips with useful information to help you avoid making mistakes along the way. Ten years ago, owning a second property abroad was for many a pipe dream, however today more and more people are choosing to buy a holiday home overseas. You may think that the initial rush to buy a Bulgarian dream home has tailed off a little with the value of pound falling on the currency markets and UK house prices leveling out yet buying your Bulgarian pad is still very much an affordable option. financing your second homeQuest Bulgaria looks at some of the ways that you can finance your second home in Bulgaria.

Evidently one way to finance your Bulgarian residence is to use your savings. The thing to consider here is firstly how much money you will be saving on annual vacations by having your own house abroad and secondly, how much money you stand to make when you sell your holiday home. Last year according to the global property guide, Bulgaria experienced the highest real estate increases in the world!

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