Pireaus Bank is now offering interest only mortgages for people buying Bulgarian properties. Many are buying Bulgarian properties off-plan with a view to obtaining capital gain and rental income from tourist rentals once completed. Piraeus Bank London, the UK branch of one of Greece’s Piraeus Bank, has launched an interest-only euro mortgage product on Bulgarian property exclusive to the UK and Bulgaria. The Pireaus Head of Retail Banking added that, “The low price of Bulgarian property has made the market extremely appealing for investors. Many are buying Bulgarian properties off-plan with a view to obtaining capital gain and rental income from tourism once completed. Offering a finance product which combines a 10 year interest only period and one which takes into account up to 30% of projected rental income is highly exciting for investors.”
Source: PropertyWiseBulgaria