LOAN AGAINST PROPERTY
Loan against property (LAP) is a type of loan facility availed by individuals and businesses against the mortgage of a commercial or residential property. It is a secured loan, where the borrower pledges the property as collateral against the loan amount.Once the documentation required by the lender is completed, a borrower can have as much as 70% of the property’s value. Depending on the lender’s policy, a borrower can repay the loan in a more extended period. Before you try out this loan scheme, you need to know everything about the factors that affect the interest rates, process, and schemes, as well as the advantages and drawbacks.
Identity Proof
- PAN Card
- Aadhar Card
- Voter ID
- Driving Licence
- Passport
Address Proof
- Registered Rent agreement
- Aadhar Card
- Driving License
- Lease agreement
- Passport
- Latest Gas or electricity bill
