Bulgarian Mortgages

It is getting more and more common for people to invest in property for the opportunity of long term returns. This can be done via a Buy to Let mortgage.

A Buy to Let mortgage allows you to purchase a property and rent it out to a third party (i.e tenants)

To get a Buy to Let mortgage certain criteria must be meet:

You will need to put down a deposit typically 15-20%

The rental income must exceed the monthly mortgage payment by a certain percent. This can be as much as 130% of the monthly mortgage payment. Although it can be less with some lenders.

Depending on the lender, the amount you will be able to borrow will generally be dependent on the rental income achievable on the property rather than your income.

The rental income available on the property will be confirmed by the surveyor appointed by the lender to value the property.