INTEREST HAS REACHED ITS PEAK
Mortgage interest rates offered by Bulgarian banks have reached their peak in November. According to the specialists the increase of the interest rates have stopped rather then the lending of new mortgages itself. Most of the banks have tightened their conditions last month and the largest mortgages now cover not more than 75% of the price of new properties in the big Bulgarian cities, while in smaller towns they do not exceed 65% of the price. Concerning apartments in prefabricated blocks from the days of socialism, mortgages do not go over 60% of the price. At the same time, the number and the size of the new mortgages have decreased in November.
Category: Bulgaria, Property | Tags: Bulgaria, Bulgarian banks, buyers, interest rate, lending, mortgages, Property, property market Comment »