Loan Against Properties

Loan Against Properties

A loan against property (LAP) is a type of secured loan where individuals pledge their property, whether residential or commercial, as collateral to obtain funds from a lender. This type of loan offers individuals access to substantial funds by leveraging the value of their property.

Eligibility Criteria:

To qualify for a loan against property with us, you need to meet the following eligibility criteria:

• Ownership of Property: You must be the legal owner of the property being pledged as collateral.
• Property Valuation: The property must undergo a valuation process to determine its market value and loan eligibility.
• Stable Income: Salaried or self-employed individuals with a stable income are preferred.
• Credit History: Good credit score preferred

Benefits

• Access to Substantial Funds: Obtain significant funds based on the value of your property, allowing you to meet large financial obligations or invest in opportunities.
• Retain Ownership of Property: Maintain ownership of your property while leveraging its value to access funds, providing liquidity without liquidating your asset.
• Flexible Usage: Use the funds from a loan against property for various purposes, including business expansion, debt consolidation, home renovations, or personal expenses.
• Competitive Interest Rates: Benefit from competitive interest rates, ensuring affordability and minimizing the cost of borrowing against your property.