Loan against property, also called as LAP loans or Mortgage loans, are one of the most sought after loans in India, especially by self employed individuals, businessmen & companies. It is a secured loan offered by banks & financial institutions against mortgage of your property. It is the best option to unlock high potential of your property to raise finance. This mortgage loan can be availed against various types of properties, each property will give different loan amount, depending upon its - type, usage & current market value. The best part of this loan is that you are not required to physically hand over the property to banker after mortgage, but you can still keep its possession. Only original documents of the property are taken in to custody by banks. However, along with type and market value of property, another factor which decides your mortgage loan eligibility, is your financial credibility to repay future EMIs. Financial loan eligibility will be based on your business income or salary income & will play important role in loan sanctions. There are many different ways to derive financial loan eligibility for businesses like Gross profit, Net Income, Bank Balance, Repayment history, Industry margin, GST Returns, Liquid income program etc.
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