Perun Lodge Owners Forum - Bansko

[ady1231]

Originally Posted by kmichael

HI Moneymaker,

If you look at the Perun Lodge link, Welcome you can see the floor arrangements. I bought two together totalling 113.406 Sq M I recall the discount for this at the time was around 15.5 K Euro

K

Hi;

I believe the ones priced at 65000 were a one bedrooms converted in to studios, they are smaller in size, so thats why. I bought mine at 68300, but it has a balcony as well. Guys we need to know if someone has applied to get a Mortgage, and what are the valuations coming at.

I believe its a difficult situation for world real estate, but perun lodge has facilities and location that a very few developments has got in Bansko, what do you recon?

Cheers

[kmichael]

Originally Posted by ady1231

Hi;

what kind of mortgages did you apply for? whats the maximum did you get? I believe we should apply ASAP, but i didnt have a call from my agent *** regarding this. did you?

PLEASE OWNERS IN PERUN LODGE ONLY REPLY.

Cheers

My preliminary approval via EIB (bank) organised through the finance company was for 110,000 Euro.. remember my previous comment that I bought two large x1 bedroom apartments together. I'm assured the value of the certificate sent to me from the EIB bank is still 'worth its salt' if I can prove I still have the same (or better) income etc. coming in. I haven't approached EIB to redeem this certificate yet, but I guess like us all, we have an agreed price for the purchase of the apartments and we have all paid something towards it already (the deposit?), so in my case the certificate meets the outstanding agreed amount. The main reason I went for a formal preliminary approval was that I wanted to be sure I could cover the cost at a later date... Assuming I could still meet the same security (income) criteria

regards

[ady1231]

Originally Posted by kmichael

My preliminary approval via EIB (bank) organised through the finance company was for 110,000 Euro.. remember my previous comment that I bought two large x1 bedroom apartments together. I'm assured the value of the certificate sent to me from the EIB bank is still 'worth its salt' if I can prove I still have the same (or better) income etc. coming in. I haven't approached EIB to redeem this certificate yet, but I guess like us all, we have an agreed price for the purchase of the apartments and we have all paid something towards it already (the deposit?), so in my case the certificate meets the outstanding agreed amount. The main reason I went for a formal preliminary approval was that I wanted to be sure I could cover the cost at a later date... Assuming I could still meet the same security (income) criteria

regards

Hi;

Did anyone get a valuation recently on perun lodge? I still havent heared from my agent, and i feel i am running out of time

[Amini]

Dear Paul,

I bought a number of units in Perun Lodge and i am interested to find out more about your company and what you can offer me. I would appreciate it if you could send me some details.
Regards

Reza Amini

Originally Posted by snow flake experiences

Dear Jain and all the owners,

I read one of your previous posts in a different forum regarding the interest you have shown on people purchasing in Bulgaria and I like you have been working over the last 4 months to try and help anyone I can. I have created a winter holiday company Snow Flake Experiences and a summer holiday company called Sky Blue Experiences. I originally had thought of of summer holiday company because I work in the real estate business also and I have had many clients who have bought properties through me ask my advice about buying in Bansko. I told them at the time I did not think it was a good idea as their is too much supply and no demand for resales, tourism was also at its infancy so getting the properties to self finance would have been a difficult task.

Despite my recommendation not to buy there for an investment, they did and now they are in the same boat as a lot of the people in this forum. One of my clients who has bought over 20 properties through me in different parts of Europe asked me time and time again to do something for them with the rentals and that is how I started with Bulgaria.

The plan with the holiday companies once having enough product on their to sustain it, is to become a tour operator, buy in seats from the airlines and create our own package holidays which makes the whole rentals thing a lot easier. Our websites are currently having a booking system put on along with online payment etc.

I find myself now being drawn into what is going on and I do want to help anyone if I can. You can see from our winter website that we have maybe 6 or 7 developments in which we are going to do the rentals for in Bansko and I am now looking for others.

We do not charge anything to the owners for our services, we simply negotiate net rates in which we think we can generate and add our commission on top which is 10%. From what I can gather for this development completion will be Dec 08, so if any of the owners are wanting to be part of our group then please feel free to contact me.

I will also contact you direct through your wesbite to see if I can assist you in anyway.

Kind regards

Paul

[plums]

That’s the whole point - I have had no quote from CFP. I, as all purchasers through this mragents are, was strongly encouraged to pay for mortgage membership (at the time I assumed it was compulsory). After another purchase somewhere else through these agentsmr, I had to upgrade to platinum mortgage membership. Paid CFP in total 995 Euros.

I have had no contact from them, apart from:

1) After I sent them an email via their website a month ago, someone called to say ‘don’t worry, we’ll contact you when it’s time to apply’.

2) After an email sent a few days ago. The email address I wrote to was given by the agents. I got a standard email back from ‘member support’, saying given the current climate they cannot assist.

That is it. Nothing else.

[ady1231]

Originally Posted by plums

That’s the whole point - I have had no quote from CFP. I, as all purchasers through this mragents are, was strongly encouraged to pay for mortgage membership (at the time I assumed it was compulsory). After another purchase somewhere else through these agentsmr, I had to upgrade to platinum mortgage membership. Paid CFP in total 995 Euros.

I have had no contact from them, apart from:

1) After I sent them an email via their website a month ago, someone called to say ‘don’t worry, we’ll contact you when it’s time to apply’.

2) After an email sent a few days ago. The email address I wrote to was given by the agents. I got a standard email back from ‘member support’, saying given the current climate they cannot assist.

That is it. Nothing else.

I am trying to call them, this is non sense, they have to get us a quote at least, surely there are Banks with Mortgage products out there.

I have received call from them last month saying the same, dont worry we will be in touch, but nothing now!

Could it be that they are out of Business?

Cheers

[Jain and Chris]

Bulgarian mortgages can be had within 7 days (I know from my own personal experience recently), so that statement is not true. Perhaps this is rather overseas buyers trying to obtain particularly 'difficult' mortgages in today's financial climate?

"Good banks" v bad banks... don't be so daft. Banks are a business like any other, and are looking to make sure you can pay what you owe and you are good for it - same in all the world.

Any bank in the world will lend to you if you can show you have enough money to deal with the repayments you get a loan or mortgage. Everyone seems to have gone mad in the property world. Get a normal deposit together, not that fake ideal of the past, but normal deposit; demonstrate your proficiency to pay back - and any bank will lend to you.

Also - quite normally - things change here in Bulgaria, as they do in the UK and all other countries concerning mortgage criteria. This can depend upon your own circumstances as well as where the property is located and international circumstances, just as in your own home country.

There are plenty of Bulgarian banks who will lend to foreigners, just contact them directly. Indeed, we personally did this and were offered more than we wanted, with little proven criteria, at a percentage lower than we ever thought possible!

The current financial situation should not lay the blame on Bulgaria, nor developers, nor their financial associates..... , but perhaps on those buyers who are or were "over-gearing", or are or were "the get rich quick" with 100% flip prices, or perhaps did not check their contracts sufficiently well.

NB : Checking contracts is the one biggest thing which overseas buyers do not do!

Sometimes, buyers think they are 'owed' a massive return when in reality it is just like playing the stock market. Remember, they will always show a disclaimer which says "your investment may go up OR DOWN".

At the end of the day, those who are feeling the reality of this "crunch" are generally those who bought o make a fast buck, or over borrowed...... the only people feeling the pinch of this whole thing are the people who have massive loan/mortgage repayments or want to sell right now.

This whole mess is a huge wake up call to everyone who thought they could live totally on credit and beyond their means. It's not just the bank's fault, nor the financial instutions... it probably comes right down to wishing to live beyond your own personal financial situation in ordinary life and in the property market, down to outright greed.



Best wishes,