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guitargary
Feb 27, 2009, 09:14 PM
Hi Guys

Firstly thank you for taking the time to look at my question.

I'm in a bit of debt. To the tune of about £30,000

I own an apartment in Bulgaria, outright. There are no secured loans or mortgages against it and I have a Bulgarian Bank account.

I wish to Mortgage the Apartment in Bulgaria, and use the money to pay off my debts here in the UK.

I have received a mortgage offer from a Bulgarian bank. However, they stipulate, that the funds must be used in Bulgaria.

How can I use these funds to pay off my outstanding debts here in the UK, and satisfy the lender?

Many Thanks

Guitargary

ROLCAM
Feb 27, 2009, 09:47 PM
This is a matter that has probably been imposed on the bank by the Bulgarian Authorities.
You need to refer this to an Attorney in
Bulgaria.