Property investment is one such investment that helps you throughout your life in many different ways.
Financially, it is perfect collateral to raise a substantial amount for children’s postgraduation or wedding or for starting a new venture or such other purposes.
In a Loan Against Property, or LAP, as it is commonly known, the amount of funds approved and disbursed is generally circa 60% of the market value of the property.
Being a secured loan, if the title of your property is clear and you are the sole owner, the process of obtaining funds in this manner is comparatively less cumbersome.
Points to consider before availing of Loan Against Property
- Repayment capacity
- Long repayment tenure
- Title of the property
- Property valuation
A loan against property can be drawn against residential property, commercial property, industrial property, non-agricultural land, an under-construction property. Agricultural property cannot be used to obtain Loan Against Property.
There are processing charges, legal charges, and documentation fees, late payment fees, and other charges applicable to the Loan against Property, just like other loans.
Though the lenders are always eager to give loans against property, it is not as easy for the borrower because to avail of this type of finance, the borrower must know the legal and administrative aspects of the property and the lender. This is where we come into the picture.
We study your requirement of funds, the documents related to your property to be mortgaged, the terms of loan suitable to you, and match these to the terms of the lenders in the market. We also help you understand all the terms and conditions and make you aware of what you are signing for.
With ABV Debt at your side, you may feel free of all the hassle of obtaining loans and plan for how are you going to utilize the funds!
