Bulgaria Property Buyer's Guide Bulgaria is one the most popular destinations for overseas Bulgaria property investment home ownership as a result of the relatively low cost of Bulgaria property and the potential for value growth of Bulgaria property following the country's accession to the European Union. Bulgaria property boasts a growing choice of Bulgaria property with something to suit everyone from Ski resorts to Coastal properties. English is not spoken widely outside the main tourist areas making Bulgaria property less well suited at present for those seeking to move abroad. Preliminary Purchase Contract is a Bulgaria property contract that is signed by all parties and is drawn up to cover the purchase of the Bulgaria property. After verbal agreement and all the necessary details provided, the Bulgaria property contract will be drawn up by the lawyers and will set out the timescales, payment terms, prices and the terms and conditions agreed. At this stage the agreed first payment for your Bulgaria property is paid to the seller and such contracts will also detail scheduled payments thereafter, up to and including the completion date of Bulgaria property in front of the Notary. You have the right to sell your Bulgaria property purchase before completion. Under the Bulgarian Act on Foreign Bulgaria property Ownership, foreigners are allowed to buy buildings but not land. Foreigners can however own Bulgaria property land by setting up a Bulgarian company. The purchase of off-plan Bulgaria property developments does not require company incorporation only purchases of land require you to set up a Bulgarian company. If you are considering using a mortgage to purchase Bulgaria property, town house or Villa in Bulgaria, Euro mortgages are available for buying properties in Bulgaria with interest rates from approx 7.00%. It is important to note that if the Bulgaria property is being built or being purchased "off plan" the funds are not available until completion and the Bulgaria property has been legally registered in your name. If you are considering purchasing a Bulgaria property in Bulgaria, Bulgarian Mortgages are available for UK and Irish Nationals and non UK Nationals on a case by case basis. Bulgarian Mortgages are on a Repayment basis only. Minimum advance �40,000, with no Maximum, the advance must not exceed if for Bulgaria property Purchase 75% of the valuation or purchase price whichever is the lower if the loan is over �100,000, the maximum advance is 70% or when the loan is under � 100,000. For Re-Mortgage/Equity Release the maximum is 80% of the valuation if the loan is over �100,000, or 75% if the loan is under � 100,000. Proof of Income is required in all cases. Non-Status loans or self certification mortgages are currently not available. Term: Maximum 25 years - up to age 70.