INTERVIEW QUESTIONS LOAN MORTGAGE LOAN DETAILS

Question: Wanted home loan against land deed?

Answer: Loan against Land Deed is known as LAP or Loan Against Property. It is just like a personal loan, but the difference is that it is a secured loan. The process for sanctioning of Loan Against Property is just like sanctioning of a home loan or a personal loan. You will have to submit all income documents and if you are eligible for the applied amount, the loan will be sanctioned accordingly. Or else, the maximum possible loan as per your salary will be sanctioned.

As the next step, you will have to submit documents of the property mortgaging. The bank’s panel advocate will verify the legal documents to see if the title is clear and the property is free from any other encumbrances. Along with this, the bank will also initiate a technical evaluation to assess the property value. On completing these 2 processes, the loan will be disbursed as a single installment in your account. Loan Against property can be availed for any immediate finance requirement.

Loan against Land Deed is known as LAP or Loan Against Property. It is just like a personal loan, but the difference is that it is a secured loan. The process for sanctioning of Loan Against Property is just like sanctioning of a home loan or a personal loan. You will have to submit all income documents and if you are eligible for the applied amount, the loan will be sanctioned accordingly. Or else, the maximum possible loan as per your salary will be sanctioned.

As the next step, you will have to submit documents of the property mortgaging. The bank’s panel advocate will verify the legal documents to see if the title is clear and the property is free from any other encumbrances. Along with this, the bank will also initiate a technical evaluation to assess the property value. On completing these 2 processes, the loan will be disbursed as a single installment in your account. Loan Against property can be availed for any immediate finance requirement. Source: CoolInterview.com

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