The emerging Eastern European countries including Bulgaria have gained a reputation for having legal systems that make it difficult for purchasers to establish legal title over properties. Conti has launched its scheme to ensure that lenders working with them in Bulgaria can be confident of obtaining a charge against properties in the country to give overseas buyers the peace of mind and security they need.
Simon Conn, senior partner at Conti, says: “We have been working closely with lenders and experts in Bulgaria over the past six months to ensure we can be confident in offering the type of high quality service and mortgage scheme we are able to offer across the rest of the world.”
The scheme, that is available in euros only, has a minimum loan amount of e40,000. The maximum term of the loan will be 15 years, available up to age 70. As of August 31, the rate is approximately 7.50%.
Due to integrate fully into the European Union in 2007, Bulgaria has long been popular with Brits and its stunning Black Sea coastline makes it one of the most popular destinations in Europe.
This popularity is also fast making it a hot-spot for investment-minded property buyers who want to capitalise on its potential and the current low prices for villas and apartments in the region.