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Mortgage in Bulgaria

 
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chris
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Joined: 13 Oct 2006
Posts: 138
Location: Cookstown, Northern Ireland

PostPosted: Thu Nov 01, 2007 4:50 pm    Post subject: Mortgage in Bulgaria Reply with quote

What are your thoughts on raising money for buying in Bulgaria ?

I had hoped to raise the money within UK, but I would love to here from anyone who has used the like of Capital Finance or any others.
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John C
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Joined: 22 Oct 2006
Posts: 53
Location: North Scotland

PostPosted: Thu Nov 01, 2007 9:11 pm    Post subject: Reply with quote

Hi Chris

We are still hoping to get a Bulgarian mortgage, we expect CFP to get intouch in the next few months( I think they get in touch 3 months before completion- Anybody know when Aspen Heights is currently supposed to complete?)

I have checked out rates and also from the Talk Bansko forum get the impression that set up costs and pehaps repayments might be a bit steep.
Time will tell, but we are also currently putiing in place contingency plans toaccess to funds in the Uk , so that when it comes to the crunch we can choose between Bulgarian finance & Uk.

We would prefer Bulgarian , cause we would like our studios to eventually become self financing through rentals Smile (a bit optimistic, certainly inthe short term i think Confused )
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John C

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www.banskostudios.co.uk
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chris
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Joined: 13 Oct 2006
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Location: Cookstown, Northern Ireland

PostPosted: Fri Nov 02, 2007 7:41 am    Post subject: Reply with quote

John C wrote:
Anybody know when Aspen Heights is currently supposed to complete?)



John the dude from MRI said yesterday that its due to complete end of March 08.


I admire your optimism on the rentals ...... did u read my new post about MRI Villas and Apartments ?

http://www.razlog.co.uk/viewtopic.php?t=142
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John C
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Joined: 22 Oct 2006
Posts: 53
Location: North Scotland

PostPosted: Fri Nov 02, 2007 9:24 am    Post subject: Reply with quote

I still havent joined the aftersales service,so I dont get any updates on whats going on. I might join it on completion when you are getting something for your money, but if you add up maintenance fees, after sales service, probably commision on rentals, you wonderwhat you will be left with at the end of the day Confused

MRi must have 1000 plus properties coming on stream by next year and ime sure most people will want to rent, is it feasable for them to keep everybody happy, at least in the first few years Question
I have my doubts.

So i think I will take possesion, take a couple of weeks holiday in Bansko( Ime sure I could rent somewhere quite cheaply Smile and look at the options for furnishing rental etc when over. I dont think there will be any rush to get them up and running on completion, cause I dont think there will be a queue at the door Exclamation Sad

Happy days Smile
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John C

A buyer at Aspen Heights!
www.banskostudios.co.uk
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ZandraLaPoI
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Joined: 23 Oct 2006
Posts: 59
Location: Yorkshire

PostPosted: Fri Nov 02, 2007 11:13 am    Post subject: Reply with quote

John,

I am thinking the same as you. I bought to rent but realistically know that for the first few years anyway things will be slow.

I am in Aspen Golf and am about to complete in the next week or so. I have no furniture and don't want to spend 8 grand (Sterling) on furnishing 2 Studio Apartments.

I am going overseas to work next year until August. I will look at them when I get back. The infrastructure should have improved by then and hopefully more Easy Jet flights will be going there.

On a positive note, Aspen Golf looks great from the outside. Hopefully all the Aspen projects will.

I think in a few years we will all be very happy. Bansko and Razlog are beautiful and it will be a pleasure to go there!

Very Happy

Zandra
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chris
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Joined: 13 Oct 2006
Posts: 138
Location: Cookstown, Northern Ireland

PostPosted: Fri Nov 02, 2007 12:13 pm    Post subject: Reply with quote

ZandraLaPoI wrote:
don't want to spend 8 grand (Sterling) on furnishing 2 Studio Apartments.


I'm in the same boat, 8k is very very steep.

We should look about forming a consortium and get a kitchen fitter, tiler etc to do all our apts.

We'll have to look into safety certificates etc that mri would provide when buying their furniture packs.

again 8 grand !! thats a lot
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John C
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Joined: 22 Oct 2006
Posts: 53
Location: North Scotland

PostPosted: Fri Nov 02, 2007 9:16 pm    Post subject: Reply with quote

I thought kitchens were fitted, bathrrooms were tiled Question
Would hope we dont need these folk- just the furniture Smile
Safety certificates , I would assume to be some sort of European standard that maybe hotels etc have to comply with( as MRI probably would if let out to safety conscious holiday companies. I would think that relates to infamable materials . Risk of Carbon Monoxide poisoning etc, fire extinguishers

Cant really see the type of furniture should have a major impact. Anybody in the hotel business know anything about this? Confused
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John C

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www.banskostudios.co.uk
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chris
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Joined: 13 Oct 2006
Posts: 138
Location: Cookstown, Northern Ireland

PostPosted: Sat Nov 03, 2007 10:40 am    Post subject: Reply with quote

John C wrote:
I thought kitchens were fitted, bathrrooms were tiled


As far as I know only some apartments come with kitchens fitted ........
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ZandraLaPoI
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Joined: 23 Oct 2006
Posts: 59
Location: Yorkshire

PostPosted: Sat Nov 03, 2007 2:38 pm    Post subject: Reply with quote

According to my paperwork my Apartment comes with a kitchen and appliances!!!!

I haven't had a problem with MRI in fact they have been very good to me!

However if I have no kitchen I wil throw a track, so to speak!!

There is a chap on the 'other site' who can sort out the Certificate you need for a nominal fee. I will definately be looking at alternative furniture packages when I return from working abroad.

Very Happy
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