Mortgages – it’s all Greek (and Bulgarian) to me

So you have decided on the country and the property is perfect, but without local knowledge and English speaking advice how will you arrange finance for your all important overseas property purchase?

The answer is simple, speak to Candour Consultancy. Through our affiliates, Candour Consultancy can arrange mortgages in most countries including Australia, Bulgaria, Canada, Caribbean Islands, Cyprus, Czech Republic, Greece, New Zealand, Poland, Spain, South Africa, the UK and the USA. Additionally, we can arrange the mortgage protection that is always highly recommended when taking out a large debt.

The Greek mainland and its 3,000 plus islands has been a destination of choice for many holiday makers for decades and unlike some other Mediterranean getaways, its interest to foreigners is definitely not waning. Greece welcomes annually an impressive 16 million tourists.

Today, fans of the birthplace of democracy, architecture, sciences, drama plus the healthy and carefree Mediterranean lifestyle are putting their money where their hearts are. In Crete for example, 80 per cent of foreign house purchasers are British and this growing trend of British buyers has pushed up house prices to become 50 per cent higher than they were a decade ago.

However, a two bedroom, two bathroom villa with pool in Rethymno, Crete can still be had for less than €224,000 (approximately £152,000). Piraeus Bank is able to lend up to 80 per cent of the value of a residential property in Greece with a minimum loan amount of €75,000 (approximately £51,000). They also offer an interest-only option for up to two years.

For a Bulgarian mortgage, Piraeus is able to finance up to a 75 per cent of the value of residential property. Up to 60 per cent is also available for land purchase (land with planning permission). There is also the option of an interest only mortgage for the first year and as for Greek mortgages, repayment terms are between 5 and 25 years.

Much has been written about the property market in Bulgaria. Buyers come from all across Europe but the majority are British and Irish, encouraged by the low property prices and the opportunity for high capital appreciation as well as the increasing availability of low cost flights. The Bank is able to offer a comprehensive service to its borrowers, being supported by the extensive network of branches in the country.

At Candour Consultancy, we understand that, for most people, purchasing a property is a life changing decision, and they want to ensure that buying is easy and hassle free. With this in mind, we work closely with English speaking lenders who offer home loans in Bulgaria, the Czech Republic, Greece, Poland and Turkey. We can also arrange mortgages in many other European, North American, Caribbean and Antipodean countries. 

To speak to one of our fully qualified consultants, click the ‘contact us’ button below and provide us with your preferred contact details and some basic information. Alternatively, click here to download our mortgage questionnaire. Once completed, just fax this back to us and we will email you an obligation free report.