Loan Against Property

Loan against property is a loan where the borrower mortgages his/her property as a collateral security towards the loan. The best in its kind, (LAP) are also known as all purpose loan where one can use the funds to expand ones business purchase a property, plan a dream wedding, fund childes education and the list goes on.

Loan against property is rightly a “all purpose loan” as it has a lower rate of interest as compared to a personal or business loan, with flexibility to pay for a longer tenure upto 15years which reduces the EMI.

Lap are structured against residential & commercial properties and are funded upto a maximum of 75% of the market value of the property.

The Loan amount is authorized by a credit check of the profile of the borrower by the bank & determining his capacity to repay the loan. Now a days there are various properties of different banks where the borrowers can get a higher loan amount o compared to their income.

Loan for Commercial Purchase (LCP) :- These are loans which the borrower takes for the purchase of a commercial property. These loans are given against the mortgage of the property the borrower wishes to buy. These loans are generally capped upto 50 to 60 percent of the market value or 65 – 100 percent of the registry value of the property which ever is lower.

LCP are best for:

    Individuals, Companies Who are looking to expand their business by opening more showroom or office space/outlets
    Investors who are foreseeing the appreciation in a particular property.
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