STC Building Group Ltd.

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In order to help clients STC Building Group is providing information for the best mortgages for foreigners to buy property in Bulgaria. At the moment we are working with DSK, United Bulgarian Bank (UBB), Piraeus Bank, Bulbank and First Investment Bank.

Below are the advantageous mortgage packages:

The bank is Established in 1992 through the merger of 22 Bulgarian regional commercial banks, the first and most comprehensive consolidation project in the Bulgarian banking sector.

An offer for Mortgage Loans for Foreign Citizens through United Bulgarian Bank

Purpose	Purchase
Target customers	Individuals EU , USA and Canada citizens
Dealer	Bank branches
Currency	EUR
Selffinancing	40%
Minimum loan amount	7.500 EUR
Maximum loan amount	150.000 EUR
Maximum loan term	15 years
Age limit	23 years minimum 65 years maximum at the end of loan term
Interest rate	1,5% for the first year 7,95% standard interest
Loan management fees	Single commission of 1% at granting; 0,5% annually of the rest of the Principal
Collateral	Mortgage of the property to be purchased Insurance of the property, covered by the bank
Insurances	Life insurance of the borrower, covered by the borrower

Documents, requested from the client, needed to apply for a mortgage:

1.	Application form
2	Income certification documents:
	2.1	For employees working under a labour agreement: certificate of remuneration and term of labour agreement (bank form);
		2.1.1.	Agreement with employer
		2.1.2.	Revenue Return form (for the last tax period)
		2.1.3.	A bank extract, issued by the foreign bank providing services, for the last six months.
		2.1.4.	P-60 form (for the last two years)
	2.2	For incomes not deriving from a labour agreement
		2.1.1.	Revenue Return form (for the last tax period)
		2.1.2.	An ongoing profits and costs report
		2.1.3.	A bank extract, issued by the foreign bank providing services, for the last six months (personal and company accounts)
		2.1.4.	P-60 form (for the last two years)

ARRANGEMENT FEE - 500 pounds

An offer for Mortgage Loans for Foreign Citizens
through Piraeus Bank

Purpose	Purchase of Bulgarian residential property; Re-mortgage of Bulgarian residential property;
Target customers	UK and Irish residents; Ex-pats living/working overseas who have a UK bank account/credit history
Dealer	Bank branches
Currency	EUR
Selffinancing	30%
Minimum loan amount	40 000 EUR
Maximum loan amount	Loans of up to 75% LTV on residential property (for loans over €100,000), 70% (which still applies for loans < €100,000) No maximum loan amount; Loans denominated in Euro
Maximum loan term	5-25 years
Age limit	21 years minimum 70 years maximum at the end of loan term
Interest rate	Lower interest rates - typically 5.95% 20% of rental income may be taken into account when assessing affordability
Loan management fees	Arrangement fee in amount of 1%
Collateral	Mortgage of the property to be purchased
Insurances	Insurance of the property /fire, flood, earthquake/

Key features of the service:

Quick decision in principle, on receipt of the completed questionnaire *

Loan secured by a first charge on Bulgarian property

Bilingual staff

ARRANGEMENT FEE - 500 pounds

An offer for Mortgage Loans for Foreign Citizens
through First Investment Bank

Loan applicant	Any local or foreign natural person, possessing (in cases of purchasing of regulated plot of land or an ideal part of integrated plot of land, part of a real estate, the foreign natural person shall be owner of a local company, which shall acquire the real estate)
Maximum amount	Unlimited
Loan currency	BGN, EUR, USD
Maximum repayment period	240 months
Loan purpose	Purchase of a real estate
Grace period	up to 6 months
Percentage of the amount, covered by the loan	up to 80% of the market value of the real estate up to 70% of the market value of the real estate, having Act 15
Collateral	- Mortgage of the real estate, subject of the purchase deal or other real estate
Annual interest rate	5.99% (BIR/EURIBOR/LIBOR+add-on) for the first year of the loan period from 8% (BIR/EURIBOR/LIBOR+add-on) in cases of financing of up to 70% of the market value from 9.5% (BIR/EURIBOR/LIBOR+add-on) in cases of financing from 70 to 80% of the market value
Penalty interest rate in case of default event	the interest rate agreed + 20 %
Drawdown	in accordance with the drawdown plan
Repayment scheme	equal monthly instalments after expiration of the grace
Fee for preliminary documents approval	50 EUR
Single management commission	2 %
Commission for pre-term repayment	2 % / 5 %
Commitment commission	0.5 %
Renegotiation commission	1.5 %
Life Insurance - an option	paid by the Borrower
Real estate insurance	paid by the Bank
Incomes of the Loan applicant	1.50 of the monthly installment due

Documents, needed for certifying the incomes of the Loan applicant/Co-Loan applicant:

Documents, provided by the employer of the Loan applicant/Co-Loan applicant

1. Letter from the employer/employers, certifying the professional qualification, length of service and the annual net income of the Loan applicant/Co-Loan applicant
2. Bank reference, issued by the main servicing bank (recommended)

If the Loan applicant/Co-Loan applicant is not employed under a labor contract:

1. Copy of a letter, issued by certified accountant
2. Bank reference, issued by the main servicing bank

Income, received under lease agreement:

1. Bank reference, certifying the income
2. Lease agreement (recommended)

ARRANGEMENT FEE - 500 pounds

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