Loan Against Property
પ્રોપર્ટી પર લોન
પ્રોપર્ટી પર લોન
Why Taken Loan LAP [Loan Against Property] Details: મોર્ગેઝ | મોરગેજ લોન / પ્રોપર્ટીપર લોન
Loan On/Against Property (LAP) or real estate loan may be a sort of secured loan offered by banks and Housing Finance Companies (HFCs) against commercial or residential property owned by the borrower. The amount, which is availed by keeping the property as collateral till the loan is fully repaid, are often employed by the borrower for various purposes. Along with being cost-effective, loans against #property are reasonably convenient to avail and repay thanks to the relatively low mortgage rate of interest . #માર્ગેજલોન
મોર્ગેઝ લોન પણ કોઈ અન્ય લોનની જેમ જ છે જેને અમે કોઈપણ પ્રકારની સિક્યોરિટીના બદલામાં લે છે, એટલે, જો આપણે કોઈ લોન ઘર અથવા મિલકતને ગીરવે મૂકીને લે છે તો તેને માર્ગેજ લોન કહેવામાં આવે છે
'लोन अगेंस्ट प्रॉपर्टी-एलएपी', को अतिरिक्त रूप से रियल एस्टेट लोन कहा जाता है। यह एक सुरक्षित ऋण के प्रकारों में से एक है क्योंकि संपार्श्विक शामिल है।
'Loan Against Property-LAP', is additionally referred to as real estate loan . This is one of the types of a secured loan as collateral is involved. This means if you would like this loan, you'll need to hold your property as mortgage with the bank. various real estate loan types tailor-made to fulfil specific financial purposes unique to every borrower. Any property whether it's commercial or residential, are often utilized in order to urge a loan against property. The main highlight of the loan against property is that you simply can get 40-70%* of the property's value because the loan amount.
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| Property Loan |
We provide Loan Against property to small #businessman. Secured term loan is beneficial to make maximum loan amount on lowest interested rate. If your financial is weak and needs to boost fund for business this is often best choice to make fund for business.
અમે નાના વ્યવસાયી વ્યક્તિને સંપત્તિ સામે લોન પ્રદાન કરીએ છીએ. સૌથી ઓછા વ્યાજ દર પર લોનની મહત્તમ રકમ બનાવવા માટે સુરક્ષિત ટર્મ લોન ફાયદાકારક છે. જો તમારી નાણાકીય નબળી હોય અને ધંધા માટે ભંડોળ વધારવાની જરૂર હોય તો ધંધા માટે ભંડોળ બનાવવું એ હંમેશાં શ્રેષ્ઠ વિકલ્પ છે.
Hence if you happen to possess quite one property under your name, you'll keep the dearer property as collateral. This will assist you get a better loan amount. The lender will evaluate your property and finalize the market price for it. On the idea of that value, you'll get the loan amount.#covid19
offering customized secured term Loan services to the Salaried, SME Enterprises, Small Businesses and professionals. We continually focused on customer requirement base service for this product. We arrange maximum loan on lowest rate for our customer during this product.
Mentioned below are a number of the features and benefits of availing a Loan Against Property.[Which type Property is Included in LAP]
- The loan is out there against self-occupied residential property, like house, apartment, flat, etc.
- It is also provided against rented residential properties.
- It is available by mortgaging commercial properties like an office block , malls, shopping complex, shops, etc.
- It are often taken against a plot of land owned by the borrower.
- Available for both salaried and self-employed individuals.
- It comes with flexible tenure and lower rate of interest compared to non-public loans.
- Benefits of Prepayment of Loan Against Property
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| Why LAP |
Prepayment of the outstanding amount under Loan Against Property offers various benefits. a number of them are:
Reduced loan tenure: Prepayment of the loan helps in reducing the outstanding amount. This feature are often utilised in reducing the loan tenure in order that you'll recover from the liability as soon as possible
Cost-saving on #EMIs: Once you've got prepaid the loan, the quantity to be repaid decreases, thus, the monthly instalments of the loan also go down
Reduced interest cost: As a part of loan prepayment, you pay the principal amount first, which ultimately reduces the interest amount. This helps to scale back the interest cost
Greater simple loan repayment within stipulated tenure: Repaying your loan borrowed against the property would become easier
- Customers need a loan for You can get a loan against property for any of the below mentioned reasons/ Purpose:
- For your business potential funding and expanding
- To purchase new land or property by mortgaging existing other property
- For marriage functions
- To fund emergency medical treatments and other
- For home renovation or expansion required.
Key Features & Product Facility : Basic
- Loan available against residential, commercial, industrial or land property.
- Loan amount available min Rs. 10 Lakhs to Rs. 2 cr.
- Loan term min 5 years to 15 Years.*
- Interest rate and processing fee are going to be depending supported the schemes and company selected by the borrower.
Loan Eligibility Criteria
- Minimum 3 Years old business vintage required.
- Minimum 3 Years Financial required.
- Sole Proprietorship Firms, Partnership Firms, Private limited Companies, Public limited Companies can apply.
- Manufacturers, Service, Traders, Wholesalers, Retailers, self-employed professionals, merchants, builders, online sellers, catering services, tour & travels agencies can apply.
- Individual’s regulation should be between 21 years to 60 years.
* Note: All final terms & condition are going to be as per Bank or NBFC policy.
પ્રોપર્ટી પર લોન
મોર્ગેઝ લોન પણ કોઈ અન્ય લોનની જેમ જ છે જેને અમે કોઈપણ પ્રકારની સિક્યોરિટીના બદલામાં લે છે, એટલે, જો આપણે કોઈ લોન ઘર અથવા મિલકતને ગીરવે મૂકીને લે છે તો તેને માર્ગેજ લોન કહેવામાં આવે છે
મોર્ગેઝ લોન / મોરગેજ લોન ના પ્રકાર :ઇક્વિટેબલ માર્ગેજ અથવા મૌખિક માર્ગેજ આવા પ્રકારની લોન્સમાં હાઉસિંગ ફાઇનાન્સ કંપનીઓ (HFCs) મિલકતના દસ્તાવેજોની તપાસ કરશે અને પછી લોન ઓફર કરવામાં આવશે. આ પ્રકારની લોન્સમાં માર્ગેજ નોંધાવવાની જરૂર નથી. ભારતમાં આ ખૂબ જ સામાન્ય લોકો છે, પરંતુ મોટાભાગની કંપનીઓ મિલકત દસ્તાવેજો માંગે છે.
રજિસ્ટર્ડ મોર્ગેઝ આ પ્રકારની લોન્સમાં માર્ગેજ જરૂરી સત્તાવાળાઓ સાથે રજીસ્ટર્ડ કરવામાં આવે છે. મિલકતના ચાર્જ સરકારી આંકડામાં નોંધવામાં આવે છે. ઉધાર લેનાર સામાન્ય રીતે નોંધણી ચાર્જ ચૂકવે છે. માર્ગેજ લોનના ફીચર આ લોન દેવું લેનારને આપવામાં આવે છે. સામાન્ય રીતે 60 ટકા મિલકત લોન તરીકે આપવામાં આવે છે. કેટલાક કિસ્સાઓમાં, આ રકમ 75-80 ટકા સુધી પહોંચી જાય છે.
ચુકવણીની મુદત: ચુકવણીની મુદત માટે, તે લોનની મુદત તરીકે ઓળખાય છે. આ સમય દરમિયાન લોન ઇએમઆઈ દ્વારા ચૂકવવામાં આવે છે.
વ્યાજ દર: હાઉસિંગ ફાઇનાન્સ કંપની લોન પર વ્યાજ આપે છે તે વ્યાજ, વ્યાજ દર તરીકે ગણવામાં આવે છે.
રિડ્યુસિંગ બેલેન્સ : લોનનું બેલેન્સ દૈનિક, માસિક અને વાર્ષિક ધોરણે ઘટાડે છે. દર વર્ષે બેલેન્સ સિસ્ટમ હવે લગભગ પૂર્ણ થાય છે અને હવે માસિક બેલેન્સ ઘટાડે છે.
ડાઉન પેમેન્ટ : હોમ લોન લેવા માટે, ધીરનારને ફિક્સ્ડ રકમ ચૂકવવાની હોય છે, જેને ડાઉન પેમેન્ટ કહેવાય છે. ડાઉન પેમેન્ટ 10 ટકાથી 20 ટકા સુધીનો હોઈ શકે છે.
- Documents Required for Property Loan
For self-employed Individual/Businessman:
A.Passport size, colored photograph
B.Proof of Identification (any two of the following):
- PAN Card
- Aadhar Card [Compulsory now]
- Driving Licence
- Voter id
- Passport
Document List for Loan
C. Address Proof (any one of the following):
- Passport
- Aadhaar Card
- Utility Bill [Tax Bill , Light Bill, Water Tax etc]
- Policy LIC and Other
D. Residence ownership proof (any one of the following):
- Property documents
- Electricity bill
- Maintenance bill
E.Office address and ownership proof (any one of the following)
- Property documents [if own]
- Electricity bill
- Maintenance bill
- Rent Agreement
F. Proof of business existence (any one of the following)
- Sales deed/ agreement (executed)
- Saral copy (3 years old)
- Copy of tax registration
- Business Tax Registration receipt from Municipal
- Company registration license GST /CGST etc
G. Proof of Income (any one of the following):
- Last 3 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant
- Audited balance sheet and Profit & Loss accounts, including tax audit report, if applicable
H. Bank statement:
- Latest 1 year bank statement (both savings and current)[Downloded pdf File]
I. Copies of all property documents:
- Sale deed/copy of Agreement,
- share certificate (if society formed),
- Tax/Maintenance bill
- Plan of Property [if Below 10 Year]
- NA Order / Construction Permission [if avail]
J. Advance processing Cheque/DD:
- To process loan documents for sanction [Valuation and Legal]
K. Investment proof (if any if Available ): [Not Compulsory]
- fixed deposit, fixed assets, shares, etc.
L.Existing loans:
- In case of any existing loan, need to submit sanction letter, payment track record
- Professional Degree Certificate: (in case of professionals).
Charges Applicable on LAP (all)
While availing a real estate loan , certain charges are levied by the banks or the HFCs to process the loan. This amount varies from bank to bank and will be considered while selecting the financial organization . allow us to take a glance at these charges.
Processing Charge: it's a necessary fee payable at the time of application . albeit the loan is rejected, the processing charge would be forfeited by the financial organization .Foreclosure and
Prepayment Charges: If the borrower wants to pay off the entire loan amount before the maturity , it's called foreclosure. In case, the borrower decides to pay a neighborhood of the loan amount before time, it's called prepayment. For both prepayment and foreclosure, banks levy a charge on certain categories.
Other Charges: Some common charges include fee , documentation charges, stamp tax , technical evaluation fee, title search report fee, etc.
Factors Affecting LAP rate of interest
The rate of interest offered for Loan Against Property isn't just limited to the bank. Various other factors affect and play a decisive role within the determination of rate of interest applicable on LAPs. These are:
Loan tenure: The duration of loan repayment affects the rate of interest of the loan. Shorter tenure means higher EMIs. However, just in case of shorter tenures, the lender might choose a better rate of interest
Borrower’s credit score: Credit score is another important factor affecting the rate of interest of the loan against property. a better credit score of 700 and above helps get loans at lower rates, while those with a coffee score may need to pay higher rate of interest
Borrower’s profile: A borrower’s age, nature of labor (salaried or self-employed), income are another factors that affect the loan rate of interest
Type of property mortgaged: Age, condition of the property to be mortgaged and its market price also affect the speed of interest for loan against property its Residential ,Commercial ,Industrial and Other.
Benefits:
Hassle free process
We have developed an efficient, smooth and straightforward process for our customers to urge a loan against property. Our easy to use online procedure allows consumers to upload their documents quickly. Our highly proficient Loan Calculator also guides the purchasers to start a hassle free process.
Benefits of applying with us
We value our customers and always look to supply them benefits of our expertise. Applying for a mortgage property with us gives you an opportunity to avail the simplest offers and deals from our partnered banks and NBFCs.
#covid19 #mdfinserv #instaloan
#covid19 #mdfinserv #instaloan
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