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Bulgarian Banks offer Mortgages to ex-pats

Bulgarian banks are keen to start providing home loans to foreigners and expats in a bid to help the struggling Bulgarian housing market. Bulgarian Unicredit Bulbank is one of the first to start offering mortgages again to foreign investers after halting lending during the credit crisis.

This news comes with confidence to encourage investors into buying again in Bulgaria, and to help the struggling property market.

Reports recently have found that the Black sea coast is proving popular with Russian housebuyers, it is estimated that 100,000 Russians have purchased property there. Initially Bulgaria was a hotspot for a bargain with British and Irish holiday home buyers and investors but the last year has seen a decline.

So now with constantly lower bargain house prices and competitive lending from Bulgarian banks, these may tempt the buyers back into the Bulgarian property market.