Send to Kindle
@novinite.com
Approximately 10% of individuals who previously qualified for home loans will no longer be eligible under new regulations set by the Bulgarian National Bank (BNB), according to brokers' estimates. This change predominantly impacts those with incomes below the national average. The BNB has implemented stricter conditions for loan approvals by commercial banks.
One significant new requirement stipulates that the monthly loan installment must not exceed 50% of the borrower’s income. This adjustment affects the maximum loan amount available for home purchases.
Gergana Tenekidzhieva, executive director of a real estate agency, noted that clients have long been advised to avoid loans where monthly payments exceed 30% of their income. She believes the new regulation enhances borrowers' financial stability.
Other notable changes include a minimum down payment of 15% and restrictions on bank coverage to 85% of the property’s value, as well as a maximum loan term of 30 years.
Data from real estate agencies indicate that approximately 50% of home buyers in Sofia use mortgage loans for their purchases. Financial experts report that the level of overdue or problematic loans is currently at an all-time low.
A recent survey conducted by Alpha Research following the vote on the Zhelyazkov cabinet has revealed that 39% of Bulgarians approve of the newly formed government
During the ongoing trial at the Central Criminal Court in London, new details emerged about the case involving Bulgarians accused of espionage in the UK
Nearly 120,000 young Bulgarians are currently in debt
The Bulgarian National Bank (BNB) has adopted a new regulation outlining the framework for providing emergency liquidity support to solvent banks once Bulgaria joins the Eurozone
The percentage of US visa denials for Bulgarians has steadily decreased in recent years
Petar Ganev, a senior researcher at the Institute for Market Economics, stated in an interview with Bulgarian National Radio that it is highly likely Bulgarians will begin making payments in euros starting from January 1 next year
Bulgaria will request a convergence report from the European Commission regarding its readiness to join the Eurozone once the country fulfills the price stability criterion
The Bulgarian government has effectively abandoned its plan to enter the eurozone on January 1, 2026
The adoption of amendments to the Law on the Bulgarian National Bank (BNB), crucial for Bulgaria's entry into the eurozone, was unexpectedly blocked in parliament as the ruling GERB party withheld its support
The President of the European Parliament, Roberta Metsola, highlighted Bulgaria's progress toward adopting the euro as its primary currency, describing it as "one step away"
At the Sofia Economic Forum V, experts expressed strong support for Bulgaria's potential membership in the eurozone, predicting significant positive impacts on investor confidence
Nearly 120,000 young Bulgarians are currently in debt
Bulgaria's Perperikon: A European Counterpart to Peru's Machu Picchu
Bulgarians Among EU's Least Frequent Vacationers, Struggling with Affordability
