The Bulgarian National assembly is discussing a new bill for abolishment of the penalty interests for pro-term payment of mortgage loans in Bulgaria
Last update: 2009-05-22 00:39:08
The Bulgarian National assembly accepted the bill for abolishment of the penalty interests for before schedule payment of mortgage loans. According to the European bank laws in cases of pro-term payback no penalty interests should be charged. This enforced those amendments to be incorporated in the Bulgarian legislation as well.
Last year the Bulgarian deputies passed on the bill for droping of the penalty interests for pro-term payback of consumers` deposits. This novelty contributes for the equalization of the Bulgarian legislation to the European Practices.
The Bulgarian banks accepted unified code for self-regulation. According to the code in case of transfer of customers accounts from one bank to another no penalty taxes shall be taken. The transfer of the accounts between the two banks shall be accomplished in two weeks term.