Sellers On Bulgarian Estate Market Offer Mortgage Plus Leasing Scheme

Sellers on Bulgarian Estate Market offer Mortgage plus Leasing SchemeThere's a new selling scheme property owners in Bulgaria have resorted to in the climate of the banks giving credit way harder - mortgage plus leasing, Standart daily reports on Monday.Now when demand in the sector has fallen rapidly and buyers' capabilities are limited due to the pretty much stopped crediting, sellers have resorted to this scheme.Banks where the property is pawned pay up to 40% of its price, the buyer is supposed to provide another 20% of the sum and then pay the rest on leasing according to a schedule made by the homeowner.If the buyer stops paying his annual due, the bank can sell its part and the seller still keeps his part. This is a scheme that has been working for a long time in Europe, but is only starting to get implemented in Bulgaria, Remax Agency's Iliyan Nikolov told Standart.Meanwhile the newspaper reports that the number of players on the estate market - from agencies to buyers and builders, has declined to only a half of what it was a year ago.