As of October 1, the BNB has tightened the criteria for banks when granting mortgage loans. The central bank's decision comes after an analysis that shows significant credit growth in the segment and its acceleration in the second quarter of the year. The measure is preventive.
The ratio between the amount of the loan secured by residential real estate and the value of the collateral at the time of granting should not be higher than 85%, the BNB decided. The ratio between the amount of current payments in connection with servicing the debt and the borrower's monthly income at the time of granting should not be higher than 50%. The maximum term under the loan agreement should not be longer than 30 years. The requirements come into force from the beginning of next month and are valid for banks and foreign branches, the BNB specifies.
Exactly a week remains until the final decision on Bulgaria's entry into the eurozone – on July 8, the European Parliament is to vote on whether Bulgaria will become the 21st member of the eurozone and adopt the single European currency from January 1,..
At the start of the harvest season, Yanislav Yanchev, the Deputy Minister of Agriculture , predicted that the wheat would be of good quality. The country continues to maintain a stable position as a grain producer. The domestic market is secure and..
The base interest rate in Bulgaria is decreasing to 1.91% as of July 1, announced the Bulgarian National Bank. The base interest rate is dropping by 0.16% compared to the previous month, when it stood at 2.07%. Thus, the base interest rate will be..
The base interest rate in Bulgaria is decreasing to 1.91% as of July 1, announced the Bulgarian National Bank. The base interest rate is dropping by..
At the start of the harvest season, Yanislav Yanchev, the Deputy Minister of Agriculture , predicted that the wheat would be of good quality. The country..
Exactly a week remains until the final decision on Bulgaria's entry into the eurozone – on July 8, the European Parliament is to vote on whether Bulgaria..
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