Loan Against Property

What is Loan Against Property?

Loan against property (LAP) means a loan that is disbursed or given against the property. The loan is given at a certain percentage of market rates of the property, mostly around 70% – 90%. Loan against property(LAP) is the component of secured loan group where the borrower allocate a guarantee by using property as security.

Advantages of Loan Against Property


  • Lower interest rates as its secured loan.

  • The loan amount can be used for Business Working Capital.

  • Greater Credit Eligibility.
Lenders give loan against those property whether they are residential (rented out and self occupied) or commercial properties. A plot or land without construction can also be considered as collateral by the lender.
 

How to apply for Loan Against Property

Documents required for Loan Against Property or Mortgage Loan

 

PAN CARD/PASSPORT

PROCESSING FEE CHEQUE

BANK STATEMENT

CREDIT SCORE

AADHAR CARD/PASSPORT

COPY OF PROPERTY DOCUMENTS

LAST 3 YEARS BALANCE SHEET

LATEST OD/CC SANCTION LETTER

INCOME TAX RETURN OF LAST 3 YEARS

PROOF OF BUSINESS

PROFIT & LOSS STATEMENT

 

Minimum Requirements for Loan against property

 

ANNUAL REVENUE

₹ 35 Lakhs

 

 

CREDIT SCORE

 

 

TIME IN BUSINESS

3 Months

 
 
 

PROCESS OF OUR WORK

Fill the Application Form

Our team will contact you

Make Payment Online

Close Menu