100% mortgaes in Bulgaria

[spike]

BuyBulgaria limited in Hampshire closed down by High Court

[teepeeseller]

Ladies and Gentlemen,
I despair. I have tried to make this point many times (as have others here) and still people seem to be falling for this nonsense.

THERE IS NO SUCH THING AS GUARANTEED RENTALS, NEVER HAS BEEN, NEVER WILL BE - Now please repeat this, mantra style, every time you see this hyped up nonsense.

You will only every get x amount of rent because they have overcharged you x+ amount of rental worth on the original price. Ask them to forget the rent and to knock 10% or more off the asking price - now you're approaching the correct bartering start point.

NEVER EVER EVER USE THE COMPANY/AGENT'S LEGAL TEAM.
ALWAYS ALWAYS ALWAYS EMPLOY YOUR OWN
The British embassy/consulate will be happy to supply you with a list of English speaking legal advisors who PROBABLY won't do the dirty on you because they wish to remain on the list.

[Goldberg Global]

This is a very strange post, and started as self promotion, I will ask Bulgarian moderator about this.

[Goldberg Global]

This thread looks dodgy.

1. First Mr Gavin promotes himself, self promotions.
2. There is in theory a possibility to do this sort of deal, but the banks will have to be caught out.
3. They will only lend foreign people 70% Loan to value, maybe a bit higher.
4. The developer could do a discount on the property, and not tell the banks.

So in theory you can do it. But, in effect you will be misleading the banks, and committing fraud, which is not what you want to do in a place like Bulgaria.

Any comments.

[spike]

Hi Robert Gavin,

Please give an update of the 100% finance deal in Sofia, as there seems to be very little information coming from the developer and the main agent for the UK has been shut down by the british government - in the interests of the British people.

Building work stopped last August at the first development at Vladaya 'due to hot weather' and has not started again, and I notice the cameras showing how construction work is progressing never seem to be working.

I would like to know when building work will be starting at Petarch.

I think that you need to update your propertyhorizons website more frequently, as the 100% finance deal in Sofia finished months ago, well according to the developer anyway.

So, do you regret promoting this investment and have you made any commission from it ?

[spike]

Hi Robert Gavin,

Do you still feel that this is a viable investment.

I have been personally trying to get my money back after BBTL stopped building last August due to hot weather...... and forgot to start building again.

The revelation that one of the directors was previously jailed for fraud and the UK government closing down the BBTL main agent didnt offer much reassurance.

[doodlebug]

Hello Spike,
I'd like to get in contact with you re: my lost money in the Petarch development, but as a new member I can't pm nor even know if it's an option on this board. Could you contact me at porter_sg at yahoo dot co dot uk ?
Regards,
Simon

[doodlebug]

Bulgaria Buy to Let Limited/Bulgaria BTL Ltd still seem to be trading according to the companies house website (I can't post links yet).

However, they've been sent a letter pre-dissolution for not submitting records. I assume that they're still the same outfit and directors. I've been searching for a phone number to them with no success.

[Ibermaxx]

Hello
I bought 2 years ago off plan in Pamporowo in "Orpheus Valley" complex. The construction has stop, one year delay the builder sain. I still need 50% mortgage, any advice please...

[kmacadam]

With lenders in Bulgaria having ceased lending currently your only option is likely to raise the money against any other properties you may own. Is that possible?