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Bulgaria in Top Three Overseas Mortgage Distributors by 2020
Updated: 2006-10-23

Bulgaria in Top Three Overseas Mortgage Distributors by 2020 

Novinite

Business

Bulgaria will be one of the top three countries for overseas mortgage distribution by 2020 according to a study by Alliance & Leicester Mortgages.

The other two countries are Spain and France. The three countries look like being the hotspots of the future in the European mortgage market, the study showed.

The Broker World in 2020 study reveals that two-thirds of brokers (68%) think they will do more business in the overseas mortgage market in the future. Nine out of ten (90%) of them think Europe will see the biggest impact and nearly half (45%) expect to expand into Europe by 2020.

"The appearance of Bulgaria as a booming property market is interesting as I would class this as an 'emerging' country, compared to the more established property markets of Spain and France. House prices remain relatively cheap for Brits, and joining the European Union should make the prospects for this area even more attractive", said Mehrdad Yousefi, head of Intermediary Mortgages at Alliance & Leicester.

The research also reveals that brokers expect to form more strategic partnerships with lenders which will lead to more consolidation in the broker market and also to lower profitability for brokers by the year 2020.

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