Bulgaria - MRI Overseas Apartment bought through MRI Review

Watch this item
1 stars
Average rating for this product is: 1 out of 5

From 0 ratings and 12 reviews

Thumb down 8% of users recommend this product

Rate it Now:

Click on the stars above to rate this product:

Tweet This Item


maulden1's Review of Bulgaria - MRI Overseas Apartment bought through MRI

15th Mar 2009

Overall Rating

0 stars
  • Value for money
    0 stars
  • Estate Agent
    0 stars
  • Investment Value
    0 stars
  • Motivation
    Fly to Let
  • Buying Process
    0 stars

I bought an apartment in one of their own developments, in Bansko called Silver Mountain. I was assured that the area around this development couldnt be built on and that the views would remain fantastic around this location. Since I reserved my apartment buildings have shot up all around the development , its turned into an urban jungle and ours is now one of the worst located developments in the region.

We were charged almost 2200 euros per square metre. I have since found out that this is the most expensive development in the region, despite the fact that the only thing it had going for it was solitude and now even that has gone. I have now found out that the second phase THE ONE WITH ALL THE FACILITIES has been mothballed and there is nothing we can do about it.

We were assured by the mortgage company we were introduced to by MRI that mortgages would be readily available. We even paid a fee to ensure that the mortgage company acted in our best interests. We have now found out that yes mortgages are available but the banks have valued the MRI developments as only being worth 400 euros per square metre - thats less than a fifth of what i paid for it!!!!!

The law firm they introduced us to, which have charged us approximately three times what I now know to be the local rate have been absolutely useless. One bewildered lawyer stated that MRI provide them with over 95% of their work, so they cant upset them, can you imagine my reaction!!!!

The furniture packs are around three times what they should cost. I was actually told on my viewing trip that their Aspen Golf development was fully booked for this season. A couple of weeks ago I was in the region and called in to Aspen Golf to see for myself and the place was deserted. I asked at reception and the lady behind the counter almost fell off her stool laughing when I told her what i had been told.

Remember - all reviews on Review Centre express the reviewer's opinion, not necessarily ours.
If you disagree with a review then please let us know by writing a review of your own or adding a comment.

Tweet This Review

On average, people found this review very helpful

How helpful did you find this review?


Members' Comments onmaulden1's Review

  • king0750 on 30th Oct 2009

    I found this review very helpful because...I have purchased a studio at Silver Mountain too. It would appear form a meeting today that MRI do not know when they will complete Phase two or three or when they will start??

    I have paid in full and have not recieved the deeds. I feel like most people in that I have been conned!!

    Can anyone recomend a solicitor?

    Thank you in advance

    Jason King