Pamporovo News

26-07-10 09:18

Mortgages for foreigners and Bulgarian expats back on the market

Mortgage loans for foreign nationals and Bulgarians working abroad are back on the Bulgarian banking market in response to reviving demand, banks and credit consultants said.

Tihomir Toshev, executive director of credit consultant Credit Center, said interest in this type of loans was zero at the time when the crisis was at its worst, forcing lenders to withdraw such offers.

Other consultants say that banks are imposing new requirements, such as targeting borrowers from specific nationalities and financing the purchases of a property whose construction the lender has backed.

UniCredit Bulbank said on July 13 2010 that it had launched mortgages for foreigners and Bulgarians working abroad, who could choose from among a list of 22 projects financed by the bank.

Source: Dnevnik.bg; Sofia Echo report