An attractive plot in Veliko Tarnovo district

Description: We offer for sale a plot of 2000 sq.m., next to regulation. Access to the plot is through an asphalt and then a macadamian road. In closeness to a small river. The place is suitable for building a villa, holliday or rest house, above sea level is about 1320 m. Wonderful panoramic view.

Location: 22 km. away west of the town of Elena ever along the Balkan Mountains and two small rivers - Bozhechka and Vesselina is situated village of Drenta. As each village and Drenta has its sights: always clean and fresh mountain air; clear as crystal and cold water, frisky bubbling accross the dark recesses; deep shadows, giving a good rest of the traveller; spacious meadows, surrounded anywhere with centuries-old beech trees, spread in a way so similar to a masterfully woven persian carpet with their wondrous herbs and forest flowers. The all said above makes the newly arrived visitor, who have not seen the beauty of this the Balkan mountains village to exclaim.

Accents

• an excellent investment
• a wonderful panorama
• an eco-clean region

Additional info:
Our main purpose is to provide our clients with an excellent level of service, the majority of which are foreign investors who have decided to own property here in Bulgaria. We appreciate the seriousness of looking after your property, and realise the full implications that this entails. You can rest assured that you are in good hands and that your investment is kept in great condition. Furthermore, we can make your property work for you and pay back its investment. We can provide short and long term rental opportunities that will bring significant annual returns

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.