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How Should I Purchase My Property

There are a number of ways of financing a property purchase abroad. The dilemma is which way do you go? Cash? Financing from the UK? Bulgarian based finance?

Buying in cash would be the most straight forward approach however, for those who are looking to purchase multiple properties or would like their investment to stretch further, gearing up your investment using UK/Bulgarian finance would be an option.

By gearing up your investment you would use a chosen bank’s money, together with your own capital to purchase the property and as such can make a greater return on your own funds than if the entire purchase was funded by personal capital.

An accountant may also be able to offset rental income against a mortgage as well as management and insurance costs. The bank’s own due diligence work, on the property documents provided by the developer, can offer further assurance that your property is of sufficient security to the bank.

Each purchaser will have their own preferences towards finance, plans for their investment and of course all financial arrangements are subject to status. With the majority of Bulgarian lenders, the mortgage repayment will remain in Bulgaria and does not have an affect your UK financial records.

For more information and to apply for a Bulgarian mortgage, please contact Bulgarian Home Loans

UK finance also has its benefits; interest rates are comparatively lower, set up costs are cheaper, there are no language barriers to overcome as well as the process being more refined and polished. You would not encounter the ever present issue of Bulgarian down-valuations as no UK lender will secure finance on a BG property.

As well as assisting in Bulgarian mortgages you can also can also find assistance in UK finance via BHL's sister company Simplicity Financial Services.