blog 1 n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Factors to Consider While Taking a Loan Against Property PowerPoint Presentation
Download Presentation
Factors to Consider While Taking a Loan Against Property

Loading in 2 Seconds...

play fullscreen
1 / 1

Factors to Consider While Taking a Loan Against Property - PowerPoint PPT Presentation


  • 3 Views
  • Uploaded on

The biggest advantage of availing a Loan against Property is that the borrower can pay off the loan over a time period of up to 15 years. Read more about factors to consider while taking a loan against property.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Factors to Consider While Taking a Loan Against Property' - mudrahome


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
blog 1

Blog: 1

Factors to Consider While Taking a Loan Against Property

Financial problems are like uninvited guests because they always come at the wrong time to ruin all

your plans. In such cases, Loan against Property (LAP) is the best option to capitalize your property’s

financial worth to raise some funds whether it is a residential property, commercial property or a

plot. A person can utilize that fund to fulfill their emergency financial needs.

The biggest advantage of availing a Loan against Property is that the borrower can pay off the loan

over a time period of up to 15 years. This reduces any large impact on the budget or lifestyle of a

person after availing the loan.

People who want to apply for a Loan Against Property (LAP) must consider the following points while

taking a loan against property.

Eligibility Criteria: Loan Against Property eligibility criteria is different from one lender to

another. A lender typically looks at several factors that include the borrower’s earnings, debt

obligations, savings, the value of the property and previous repayment records. An

individual must check all these factors from their end with the personal loan providers and

other lenders before applying for this loan.

Interest Rate: Just like the eligibility criteria, the interest rate of LAP also varies between

lenders. Therefore, it is advisable to always check what the lenders offer. There are some

good financial service providers and advisors in the market, you can take their help to know

the interest rate and other information about LAP as well.

Ratio of Loan to Property Value: Every bank or lender evaluates the ratio of loan to the

property value in a different way. Therefore, it is vital to pay special attention to it and check

where you are getting a better value. Different types of properties whether they are

commercial properties, personal properties, etc. are valued differently and it completely

depends on the lender and its policies.

Types of Charges: Aside from interest rate, there are some other types of charges such as

processing fee, renewal charges, pre-payment charges, etc. typically borne by a borrower.

An individual must add all these additional fees and charges before applying for a Loan

Against Property.