Equity Release Bulgaria

[tc8663]

Hi , first time on the site , I am trying to find a company that can help me release equity from my Bulgarian property , can anyone recommend one , or does this service even exist?

 

[KayJay]

The only ways you'll get any equity released from a property in Bulgaria would be to find a foreigner to buy a share of it (not a lot of hope there, I imagine) or to sell it....

 

[JROSE]

i have a place in sozopol, how might you be able to help with a sale?

thanks,

 

[thetravelbug]

Appreciating Assets offered a friend 14K Euros for her apartment on the coast she had paid over 65,000 E for a year before. This was to buy it from her, not equity release. She refused and eventually sold it for 20K Euros.

GOOD LUCK!

 

[patrick1972]

Appreciating Assets offered a friend 14K Euros for her apartment on the coast she had paid over 65,000 E for a year before. This was to buy it from her, not equity release. She refused and eventually sold it for 20K Euros.

GOOD LUCK!

I would just like to ask the following:
1. Have you an issue with appreciating assets and if so can you provide facts and figures?
2. Why you didn't answer JRose above?
3. Do you work for a similar firm?

I dont know much about equity release and I know less about how it is done but I know that it has to do with getting a release of capital whilst retaining ownership.

I have used appreciating assets in the past and quite successfully. I believe they do their best for people in the difficult economic times we have today. If however you have some factual basis that can be supported by facts then please let me know as I am unaware of anything negative on this company.

I would be also intrigued to know if you could answer JRose above and supply an alternative to equity release.

Regards
P

 

[property owner]

Beware - If you take out a mortgage in Bulgaria then the costs to service the mortgage are likely to be higher than in the UK. Then if you are thinking that you can get income to service the costs through rental, beware because supply is outstripping demand so many properties are empty for the majority of the season.

 

[thetravelbug]

response

1. Have you an issue with appreciating assets and if so can you provide facts and figures?

As stated above I know they offered a friend 14k for an apartment she paid 64k for. I am not saying either way whether this was good or bad, just pointing out what I know. She decided it was too low and went on to sell privately for a few thousand more.

2. Why you didn't answer JRose above?
<snip>

3. Do you work for a similar firm?

No. <snip>

<snip>

 

[JROSE]

hi there, just wanted to verify that travel bug did offer the villa inland and cash, but this doesn't interest me as although there are plenty of aps for sale in BG, location is everything and personally i believe that one day Sozopol will be very exclusive. It may be 10 yrs from now, but at that time I believe it will be worth more than a rural house...

re the initial post - check out japanese mortage providers as they offer extremely low rates (around 2.5%). Ubiquitous mortgages act as a reputable broker for many banks over there.

re appreciating assest- i know one of the main guys from there and i think fair play to them. they aren't stupid and they know they can buy at very low prices and then re-sell through russian brokers. If the offer they make isn't high enough you don't have to sell.

 

[thetravelbug]

Sozopol WAS exclusive before they built apartment block upon apartment block and hotel and after hotel further and further along. The old part is still absolutely lovely and definitely worth a visit. But even with all building and development Sozopol still much better place than Sunny Beach.

 

[JROSE]

Yes I agree

 

[patrick1972]

1. Have you an issue with appreciating assets and if so can you provide facts and figures?

As stated above I know they offered a friend 14k for an apartment she paid 64k for. I am not saying either way whether this was good or bad, just pointing out what I know. She decided it was too low and went on to sell privately for a few thousand more.

2. Why you didn't answer JRose above?

I answered JRose in private message as do not think I need to disclose my financial dealings here on the forum but for your information I offered a part exchange for a villa I have inland plus some cash. He would get some cash now, and I would continue to try and sell the villa if he wished, or help him rent it out.....it was simply an offer that gave him some cash now plus property he could sell at a later date.

3. Do you work for a similar firm?

No. You can see my website link at the bottom.

I am simply after an apartment on the coast but would prefer to part exchange for property I already have inland.

Thanks for your honesty. The truth appears to be that your friend had an offer on their property and did not accept it and apparently they sold it later for a higher price. As you are aware getting any offers on Bulgarian property is very difficult so I think maybe Appreciating Assets have a function especially if they are able to achieve offers on the property and also if they can achieve some equity release. As with all economies in times of obvious decline people will buy at rock bottom in the hope that the fall in prices will be counteracted by savings on the sale.

 

[thetravelbug]

Seems you have some weird agenda to bash me on this forum. I have already responded to your pointless attack on the other topic you felt the need to post on. I cannot remember the exact figures that my friend bought at and sold at, the matter went on for a long time and was a while ago now. I have NOT slandered this company in anyway. I have merely stated what I know. I have not misled anyone - it makes no difference to the overall point whether my friend bought for 50K, 65K or 100K....and whether she sold for 20K, 23K or 5K......

Suggest you get off your high horse and stop accusing me of things that are not true.