From the beginning of April this year Bulbank started mortgages promotion keeping the interest levels from the beginning of the year, but now the clients of the Bank will not be charged with prepayment fee for the whole duration of the credit. The promotion will continue till the end of May 2006.

Bank’ observations show that most popular are the mortgage schemes with fixed lower rates for the first five and ten years, 6.48% and 6.68% respectively as of the date of signing the mortgage, based on base interest rate of the Bank (BBIR). The interest level for the whole period, maximum of 25 years, remains 6.68% as of the date of the mortgage.

Mortgages for more than BGN 55 million financed Bulbank since the beginning of the year, when the above mentioned interest levels where introduced. More than BGN 4 million are distributed with the so called “referral programme” when a client of the Bank pays no interest for the last month in case his relative is referred to sign a mortgage with Bulbank. The Bank plans to continue the referral programme till the end of June.

Bulbank provides option for 6-month maximum grace period on the interest payments. Thus the Bank eases the customers during the period following the expenses they have accumulated for the loan disbursement and the purchase of the lodging.

The Bank offers seasonable repayment of the loans with the so called corrected installments. The scheme is valid irrespective whether the loans are payable upon annuities or decreasing installments. Thus the customers are able to pay less during the winter time, when all communal payments grow heavier.