The Bulgarian property market is relatively new to the international real estate horizon and offers some oncredible investment opportunities. Prior to joining the EU in 2007 Bulgarian property prices were rising by approx. 20-30% each year.
Full status mortgages are based on affordability. All your exisiting liabilities, including any rent/mortgage payments, loands, credit card payments, etc., in addition to your proposed Bulgarian mortgage repayments cannot exceed 40% of your net monthly income.
In some cases s percentage of the achievable rental income may also be allowed. It is, however, not always the case that the lender will takes any or all of these sources of income into account when calculating the maximum available loan.
To obtain a Bulgarian mortgage you will need, as a minimum requirement, proof of income when you make your application. The following will be required: