Mortgage credits affordable even for families with lower income

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Mortgage credits affordable even for families with lower income

Monday, Mar 28, 2011

Sofia. Buying a home with a mortgage credit is no longer an impossible mission for families with lower income, an inquiry of the Monitor daily has shown.
Tihomir Toshev, Executive Director of CreditCentre, explained that even households with a BGN 1,500 monthly income could draw a mortgage credit at present. Such an income, he added, would be sufficient to repay a EUR 40,000-50,000 loan.
Since mid-2010 until now mortgage credit interests dropped 1-1.5%. The average interest on a newly-issued mortgage loan in EUR is 7.82%, the BNB statistics shows. On loans in BGN it is 8.37%, compared to 9-10% a year earlier.

Source: focus-net.com

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