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EP: Bulgarian mortgage system is complex and non-transparent

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The mortgage system in Bulgaria is not transparent and very complex. A European Parliament delegation has come to this conclusion after a visit to the country in February. Among the problems are misleading behavior of private banks such as failure to inform about potential risks and misleading clauses in agreements, insufficient supervision of private bailiffs and difficult access to free legal aid for consumers.

MEPs have made recommendations on the identified problems to the Bulgarian National Bank, but describe their communication with the institution as "unsatisfactory", BNR correspondent Angelina Piskova reported from Brussels.

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