After the massive foreign interest in property investment and construction in Sofia, non-Bulgarians are starting to move their interests to other areas of the country. They will soon be aided by current and correct cadastral maps, which provide an inventory of the area of a property, identify the owners, and present the information to the tax authorities, enabling them to calculate property tax. As such, the cadastre makes redundant the current method of formally declaring a property purchase, something that foreigners appreciate even more. A project completion date is not yet set. In late August, Bulgaria's FIBank announced that it was starting to offer mortgages to foreigners. It was the third bank in the country to do so, and hoped that the mortgages will encourage foreign investment in real estate. The loans, which have a period of up to 20 years, have a floating interest rate of 6.9 per cent for the whole period. The interest goes to 8.4 per cent with down payment between 20 and 30 per cent.