Your new home at the town of Smolyan

Dispoition: Entrance hall, living room with dining area and kitchen box, place for sleeping, bathroom together with WC.

Accents

• In the center of the town
• 10 km to Pamporovo resort
• 100 km to the city of Plovdiv
• One hour drive to Aegean sea
• Good investment opportunity
• Eco-friendly area

About the area

Smolyan is a town in the very south of Bulgaria, the administrative center of Smolyan Province. It is situated in the valley of the Cherna ("Black") and the Byala ("White") Rivers in the central Rhodopes at the foot of the mountains' highest part south of the popular ski resorts Pamporovo and Chepelare. This part of the mountains is extremely beautiful. Unlike other bigger European mountains like the Alps, for example, the mountain chains there are slanting, they smoothly unfold in all directions and the climate is not at all severe. Century-old spruce forests grow at the highest parts of the mountain and beech and pine trees occupy the lower parts. The view which opens out from the highest points of the mountain are really overwhelming. The climate there is mild. All the four seasons are normally disturbed throughout the year. The summer there is cool and calm and the average temperature is of 19 degrees. The winter is long but mild, as well, as the influence of the Mediterranean climate is greatly felt .

Construction type: Brick

Year of construction: 2008 Year

Stage of construction: the building is completed up to the roof cornice

Completion date: 10.2009

Number of bathrooms: 1

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Joinery: PVC

• New development
• Elevator
• Security
• Garage

Agent's valuation of the offer Excellent!

See the project

Mortgages in Bulgaria

You can rely on a Mortgage Loan from a Bulgarian bank that will finance your purchase, even if your income originates from another country. Mirela Real Estate agency has a partnership with leading Bulgarian banks based on a licensed contract, by the force of which we represent them, which is sign of respect and trust. Our credit specialists offer consulting services to our foreign clients and this service is free and doesn't influence the credit in any way.

Here are the main characteristics of a standard mortgage loan in Bulgaria are, as stated by two of the leading banks in the country - United Bulgarian Band and First Investment Bank.

UBB -United Bulgarian Bank

The client segments are the citizens of the European Union, USA and Canada. The minimum amount of the credit is Eur 7500, the maximum is Eur 250 000 for a period of up to 20 years (the currency is EUR). A person must be at least 23 years old to be considered eligible and the age plus the loan period shouldn't exceed 65 years. For the first year the interest rate is 1.5% or 5.9% for the first 3 years. There is a standard interest rate for the rest of the loan period which is 6.5%. The bank has an application fee of BGN 20 and an administration fee of 0.5%, payable at loan disbursement. The prepayment fee is 5%. The bank also offers property insurance.

First Investment bank
Every able local or foreign citizen is considered an eligible borrower. However, if the acquired property is a plot, a local citizen should acquire a property. There are no limits concerning the maximum loan amount. The maximum term is 240 months with a loan purpose - acquisition of a real estate. Up to 80% of the market value of the mortgaged property can be financed.
There is an option of a period when the borrower pays only interest which may be up to 12, 24 or 36 months. After it equal monthly installments during the loan term are paid. In case of overdue payments the bank charges a penalty interest rate which is the the interest rate agreed plus 20 points. The utilization is according to utilization plan. The application fee is Eur 50 and the management fee is 2%. There is also an early repayment charge from 2% to 5% as well as a commitment fee - 0.5% and a renegotiation fee - 1.5%. You can read more on the fees and charges on their website. The applicant's income should be 1.50 times the monthly installments. The minimum income that should remain per member of the household is 500 Eur for adults and 250 Eur for children.

The bank offers a life insurance option, which is paid by the borrower and property insurance.

Required Documents

Credit history documents (Experian Scorex, Equifax) - for citizens of the United Kingdom

Required documents for the income of the applicant / joint applicant:

For applicants / joint applicants working under labour contracts:

1. Form P-60 (required).

2. Letter from the Employer establishing the net income of the applicant / joint applicant (advisable).

3. Account statement for the last three months evidencing the declared incomes.

4. Other documents required by the Bank.

For applicants / joints applicants who work as freelancers or owners of companies:

1. Letter from an accountant establishing the net income for the last year or an Income Statement.

2. Account statement for bank account evidencing the declared incomes.

3. Other documents required by the Bank.

For applicants / joints applicants who receive rental income:

1. Account statement for the last three months evidencing the declared incomes.

2. Rental contract, if the income is not included in the annual Tax returns.

Applicants who are not citizens of the United Kingdom are expected to provide documents corresponding to those listed for UK citizens.

The term for approving the application is usually up to 2 days.