trouble getting a mortgage



New Member
mortage issues

No matter what they say, obtaining a mortgage currently in Bulgaria is mission impossible - most of the banks give mortgages on 7-10 %, they require that you must be EU resiadent, and so they want to see Act 16 before even looking at your mortgage application. But almost every overseas investor needs a mortgage on their off-plan purchase, where unfortunately Act 16, in many cases even act 15 has not been granted yet.
And at the end of the day no matter of the recommendations in previous posts, it is obvious that no matter who the agent or the lawyer is, the only one who will be obliged to cover the monthly mortgage payments, is the investor. Who of course together with banks, agents, developers and lawyers, also experiences the results of the crisis, converting in empty pockets for a long time ahead. At least this is what I have learnt from my personal experience so far.


New Member
It is possible to get a mortgage from MKB Unionbank. I interviewed the Mortgage Advisor in the Dobrich branch and he gave me lots of information. He told me that they will consider off-plan properties (at Act 14 or later) and will even lend money on rural cottages. He said "as long as there is a road to the property" it will be considered for a mortgage. But they will only give 50% of the value.

MKB Unionbank - Mortgage loan for foreign citizens

Best regards,
Last edited by a moderator:


New Member
Hi All,

I am an investor in Bulgaria. I have the funds but need legal advice? Any tips or names of good legal firms with English speaking services?

Thanks Guys,


New Member
I would recommend Bulgaria Legal. The lawyers there speak excellent English and they are very helpful. If you type "Bulgaria Legal Varna" into Google you will find them.