Please note, that there are no non-status/self-certification mortgage facilities accepted by the lender. All applications need to be supported by a minimum requirement of proof of income. If employed, copies of your last three month's payslips & copies of your latest P60/Employer’s Reference together with copies of your last three month’s Personal Bank Statements will be required or alternatively if you are self-employed, copies of your last three years Audited Accounts & copies of both your last 3 month's Business and Personal Bank Statements will be required on application.
The lender will NOT take into consideration any proposed Rental Income from the property for mortgage purposes/repayments.
Your loan is based on your joint net “take home” pay and is calculated on an affordability basis. All your existing liabilities including any mortgage/rent payments, personal and bank loans and any maintenance (ie: Divorce) payments together with your proposed Bulgarian mortgage payments must not exceed 40% of your net monthly income.
Example:
Net joint monthly income £ 2,500 times 40% of that figure is £1,000 minus existing monthly mortgage payment £ 300 – No other liabilities. This leaves a balance of £700 for a proposed Bulgarian Mortgage payment.
Mortgage details:
- Maximum loan to value 80% - Re-mortgages/Equity Release
- Maximum loan to value 75% - House Purchase
- Maximum term 25 years
- €40,000 minimum loan
- Euros mortgages only
- Repayment mortgages only
- Rates from approximately 6.50%