Reports last week showed that the Bulgarian property market is looking very good and is predicted to continue on this path, but the same can’t be said of the UK Property market.
Repossessions are up by 21% and there are no signs at the moment of this decreasing as the CML have predicted that this will continue in 2008.
The number of homes repossessed in 2007 was 27,100 the highest since 1999.
Many factors have contributed to this increase including, added pressures on homeowners owing to higher energy bills, food costs and more than a million people coming off fixed-rate mortgages.
Statistics revealed that many home owners are paying their mortgage with credit cards, but many credit cards companies are reducing lending facilities in light of the latest credit crunch.
A lot of home owners feel that there is no other way out of this predicament but to allow repossession, but there is!!!
You can contact your lender and re-negotiate with them and if this does not help you could if not tied in arrange another mortgage with favourable terms; you can also arrange another credit card with more favourable terms like 0% interest on balance transfers.
We have looked at the most popular and favourable mortgage terms and credit card facilities on the market today and we found in the long term the Post Office are offering really good rates of 5.99% fixed for three years and their credit card facilities come with 0% interest on balance transfers.
There is some good news, some of the biggest lending companies have reduced their rates by 0.25% but it still maybe a little to late for some whom have already lost their home to repossession and are now facing Bankruptcy.
If you are facing similar issues don’t delay contact your Mortgage Company or find another with preferential rates.
To find out more about the rates offered by the Post Office Visit Bis-Perth Mortgages
Bulgaria Looking Very Good, Can We Say The Same For The UK?
Bulgarian Property Market Booms Again 2007
Good news again for Bulgarian Property Investors as the Bulgarian property market was the worlds strongest in 2007, with an estimated turnover of 11.36 billion it has exceeded all expectations and has seen an increase of over 2.36 billion Euros over 2006 figures.
It is predicted that the Bulgarian Construction Boom will continue to grow at 12% - 16% year on year until 2010.
We have seen prices rise dramatically over the last few months and this is set to continue due to the good mortgage market, high revenue of properties and the weak impact of the global credit crunch on Bulgaria.
Britain and Russia played an important part in maintaining these excellent market conditions with high investment in Bulgaria.
UK investors accounted for 40% of all Bulgarian Investments in 2007 and Russia accounted for another 38% of all investments in the Bulgarian Market.
As predicted previous property investors in the Bulgarian Property market will indeed benefit from these conditions but on the other hand those looking to invest in the future will pay slightly higher prices for Bulgarian Property, but all and all, the outlook is very favourable as prices still remain the cheapest in Europe.
An additional benefit to property investors in Bulgaria is the reduction to 10% flat rate of tax making Bulgarian one of the most tax efficient countries to relocate or invest in to.
Another benefit for this year is the introduction of more Budget Airlines increasing their flight frequency to Bulgaria which will make travelling to Bulgaria much more cost effective.
Once again the outlook is very positive for the Bulgarian Property Investor.
You can contact us at www.bis-perth.co.uk
Our Services
Beautiful Bulgarian Properties from Bis-Perth
It is predicted that the Bulgarian Construction Boom will continue to grow at 12% - 16% year on year until 2010.
We have seen prices rise dramatically over the last few months and this is set to continue due to the good mortgage market, high revenue of properties and the weak impact of the global credit crunch on Bulgaria.
Britain and Russia played an important part in maintaining these excellent market conditions with high investment in Bulgaria.
UK investors accounted for 40% of all Bulgarian Investments in 2007 and Russia accounted for another 38% of all investments in the Bulgarian Market.
As predicted previous property investors in the Bulgarian Property market will indeed benefit from these conditions but on the other hand those looking to invest in the future will pay slightly higher prices for Bulgarian Property, but all and all, the outlook is very favourable as prices still remain the cheapest in Europe.
An additional benefit to property investors in Bulgaria is the reduction to 10% flat rate of tax making Bulgarian one of the most tax efficient countries to relocate or invest in to.
Another benefit for this year is the introduction of more Budget Airlines increasing their flight frequency to Bulgaria which will make travelling to Bulgaria much more cost effective.
Once again the outlook is very positive for the Bulgarian Property Investor.
You can contact us at www.bis-perth.co.uk
Our Services
Beautiful Bulgarian Properties from Bis-Perth
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