a cultural monument-House for sale in the smallest town of Bulgaria!

Location

Melnik is the smallest settlement classified as a town in the Republic of Bulgaria and is located in Blagoevgrad Province, in the southwestern Pirin Mountains, about 440 m. above sea level. The town is an architectural reserve and 96 of its buildings are cultural monuments.

The unique architecture of the place and the nearby Rozhen Monastery (located 6 km southeast of Melnik) make it a popular tourist destination for Bulgarian and foreign visitors. The town is also associated with the impressive natural sand pyramids in various forms, resembling giant mushrooms, ancient towers and obelisks, spread in an area of 17 sq.km. near Melnik, Kurlanovo and Rozhen. The town has also been famous for its strong wine since as far as 1346. The local wine was reportedly a favourite of Winston Churchill.

Description

We present you "Paskalevata Kashta" house - announced for a cultural monument, with a ready project for a fully reconstruction /the project is prepared by the National institute for the cultural monuments/.

The house is situated on a sheer southern slope in the town of Melnik. It has been renovated in the 60's, with traditional materials such as wood, stone, bricks, plaster, and is in good condition at the present moment.

Disposition: The ground floor is constructed in stone masonry and consist of two wine-cellars and a kitchen for the restaurant /total area of 233 sq.m./. The second floor is a hotel part /about 302.6 sq.m./ and consist of a saloon, encircled by rooms. Between storey construction is executed from wood trimmer joists. The inward connection the two levels is abolished. The ceilings are wooden, some of them with wood-carvings.

The project

The project for house renovation allows increasing the area of the house up to 800 sq.m /additional rooms, sauna, wine-cellar, etc./. The main aims of the project is to:

- recover and revive the saved authentic appearance of the building 

- to save and accommodate  the interior with the contemporary needs, according latest requirements.

The goal of the project is a VIP-hotel, with high comfort of residency and unique atmosphere, to be organized. An all this created by the architectural-historic specification of the house-memorial of culture with national significance from period of rebirth. For the successful reaching of this goal, the project envisages combining contemporary and cultural-historic requirements - for worth of the building.

Accents

• An attractive location
• A house monument of culture
• An approved project for house renovating

Construction type: Brick

Stage of construction: permission to move in granted

Heating: Local heating

Joinery: Wood windows

• Permission for use granted
• Planning permission granted
• Electricity
• Pipings
• Sewerage

Agent's valuation of the offer Very good!

Mortgages in Bulgaria

You can rely on a Mortgage Loan from a Bulgarian bank that will finance your purchase, even if your income originates from another country. Mirela Real Estate agency has a partnership with leading Bulgarian banks based on a licensed contract, by the force of which we represent them, which is sign of respect and trust. Our credit specialists offer consulting services to our foreign clients and this service is free and doesn't influence the credit in any way.

Here are the main characteristics of a standard mortgage loan in Bulgaria are, as stated by two of the leading banks in the country - United Bulgarian Band and First Investment Bank.

UBB -United Bulgarian Bank

The client segments are the citizens of the European Union, USA and Canada. The minimum amount of the credit is Eur 7500, the maximum is Eur 250 000 for a period of up to 20 years (the currency is EUR). A person must be at least 23 years old to be considered eligible and the age plus the loan period shouldn't exceed 65 years. For the first year the interest rate is 1.5% or 5.9% for the first 3 years. There is a standard interest rate for the rest of the loan period which is 6.5%. The bank has an application fee of BGN 20 and an administration fee of 0.5%, payable at loan disbursement. The prepayment fee is 5%. The bank also offers property insurance.

First Investment bank
Every able local or foreign citizen is considered an eligible borrower. However, if the acquired property is a plot, a local citizen should acquire a property. There are no limits concerning the maximum loan amount. The maximum term is 240 months with a loan purpose - acquisition of a real estate. Up to 80% of the market value of the mortgaged property can be financed.
There is an option of a period when the borrower pays only interest which may be up to 12, 24 or 36 months. After it equal monthly installments during the loan term are paid. In case of overdue payments the bank charges a penalty interest rate which is the the interest rate agreed plus 20 points. The utilization is according to utilization plan. The application fee is Eur 50 and the management fee is 2%. There is also an early repayment charge from 2% to 5% as well as a commitment fee - 0.5% and a renegotiation fee - 1.5%. You can read more on the fees and charges on their website. The applicant's income should be 1.50 times the monthly installments. The minimum income that should remain per member of the household is 500 Eur for adults and 250 Eur for children.

The bank offers a life insurance option, which is paid by the borrower and property insurance.

Required Documents

Credit history documents (Experian Scorex, Equifax) - for citizens of the United Kingdom

Required documents for the income of the applicant / joint applicant:

For applicants / joint applicants working under labour contracts:

1. Form P-60 (required).

2. Letter from the Employer establishing the net income of the applicant / joint applicant (advisable).

3. Account statement for the last three months evidencing the declared incomes.

4. Other documents required by the Bank.

For applicants / joints applicants who work as freelancers or owners of companies:

1. Letter from an accountant establishing the net income for the last year or an Income Statement.

2. Account statement for bank account evidencing the declared incomes.

3. Other documents required by the Bank.

For applicants / joints applicants who receive rental income:

1. Account statement for the last three months evidencing the declared incomes.

2. Rental contract, if the income is not included in the annual Tax returns.

Applicants who are not citizens of the United Kingdom are expected to provide documents corresponding to those listed for UK citizens.

The term for approving the application is usually up to 2 days.