Bulgaria Mortgage Loan Prices Sharply Up in July

Business | August 19, 2008, Tuesday // 00:00

The mortgage prices in Bulgaria continue the trend of going up and show a sharper increase in the month of July without any of the banks making a better credit offer to its customers compared to June.

For mortgage loans in BGN, the last index increase fixes its current value at 9,3% which is the closest to the one from the end of 2005 and the beginning n of 2006

Nine banks have changed their BGN loan offers and have increased the mortgage loan prices while two have kept their prices at the same level as June.

The same trend has been noticed for mortgages that are granted in EUR with eight banks increasing the loan prices and two banks without changes in their conditions for the EUR loans as well.

Consequently banks with relatively lucrative offers and without an increase in their mortgage loan prices in the month of July are improving their positions on the market.

The upcoming months will prove very interesting for the Bulgarian loan market because the mortgage loan prices have reached levels that will make people restrain for applying for a mortgage while banks have to undertake some new measures to attract more customers and fight the global financial crisis at the same time.

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