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Unicredit Bulbank Provides Mortgages To Foreigners

As most of us are fully aware of the low costs involved when investing in the Bulgarian property market, few of us however are aware of the options available to those whose budgets do not extend to purchasing property in Europe's most affordable housing market.


Mortgage loans for Non-Bulgarian citizens are not as widely available now as they were over previous years but one provider is Unicredit Bulbank is one of Bulgaria's biggest banks with 230 branches which are spread all over the country.

They are currently the only Bulgarian bank providing mortgages to foreigners.However there are cetain restrictions,the foreign investor should buy in a development that the bank has financed the list is as follows:

Table 1 Holiday Developments Approved for Financing from UnicreditBulbank

Investor Development Location
Bulgaria Consult EOOD Kosta Del Kroko Tzarevo
GB Britannia Saint David's St. David's Bansko
Bolkan Property Investments EOOD Balkan Jewel Bansko
G56 Developments Ltd. Old Nessebar Hills Sunny Beach
Bulart Building EOOD Lozen Heights Gorni Lozen (Sofia municipality)
Golf Club Ibar Plc. Golf Club Ibar Dolna Banya
Lighthouse Golf Resort Plc. Lighthouse Golf Resort Balchik (Kavarna)
Serdika Imoti Ltd. Panorama Rogachevo
Simpli Bulgaria Gesha View Dryanovo
Smartpartners BG EOOD Orchard 1 Bansko
Bulgaria Property Vision Ltd. N.A Sunny Beach
Kaliakria Hills Ltd. Kaliakria Hills Balchik
Emerald Hospitality Ltd./ Emerald Property Managment EOOD Emerald Resort Ravda

Source: Unicreditbulbank

Table 2 Non-Holiday Developments Approved for Financing from UnicreditBulbank

Investor Development Location
Ansi C Ltd N.A Sofia, Ovche pole Str.
Orchid GardensVarna EOOD Orchid Gardens Varna,
Osmi primorski polk Str.
Orchid Sunside Apartments EOOD Orchid Seaside Apartments Varna, Vuzrajdane district
Maritza Gardens EAD Maritza Gardens Plovdiv, MaritzaGardens district
Suny Hill EAD Sunny Hill Burgas, close to Meden rudnik
Basso properties EOOD College Residences Sofia, Ovcha kupel district
BCN Residences OOD Tara Residences Sofia, Dragalevci
New World Company Ltd. Kanatea Gardens Kavarna
EG Panorama The Boutique Apartments Sofia, Vitosha Vetz

They offer a free loan certificate which is valid for 6 months; this allows the buyer plenty of time to choose the perfect property before committing himself to a loan.The mortgage loan can be provided to cover up to 70% of the market value of the property, and can be spread over a term of up to 20 years.

The terms for a mortgage application are not unlike most other countries, the applicant will have to show proof of a permanent income from abroad, and the age limit at the maturity date of the loan is 65 years for men and 60 years for women.

So for those considering a second or permanent home in Bulgaria but don`t have the sufficient funds to carry it through, then this could be an option well worth considering.

This article was written in response to the many e-mails which we at Quest Bulgaria receive from our readers, asking us for advice on this subject.
For more information on mortgages in Bulgaria contact Unicredit Bulbank.