123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Investing---Finance >> View Article

Indiakaloan-loan Against Property

By Author: ranjeet kumar
Total Articles: 1

Indiakaloan.com is an offshoot of the SMC Group. The portal helps you obtain a home loan, personal loan, business loan, and loan against property from India’s renowned lenders. Indiakaloan.com is committed to helping you obtain the right loan, the right way.
Indiakaloan.com provides independent and professional mortgage advice to those seeking loans. When you engage in the services of Indiakaloan.com, the entire process of taking a loan - managing the documentation to disbursal - is handled by us. Equally important, Indiakaloan.com helps you choose the best loan provider from the entire mortgage sector.

In brief, a loan against property is what it actually means - a loan given or disbursed against the mortgage of property. This is different from a personal loan, which is given to an individual; without any questions. The loan is sanctioned as a definite percentage of the property's market value (usually around 40 percent-60 percent). But the entry amount too is usually pre-defined by most lending institutions, for instance, say, Rs 200,000.
This multi-purpose loan puts funds for your use as you want to use it. It explains the hidden value of the property owned by you. A Loan against Property is also known as a Mortgage Loan and is a secured loan, where your existing property is pledged as security collateral against the loan. LAP is a handy way of obtaining cash. If you are looking for funds and own a property, you can mortgage your property to create these funds, without renting out your property, or selling it.
You can get a loan against this property by confirming your ownership of the property. Such a loan is called a LAP loan. LAP is a secured loan - you are giving your property as a security to the bank/NBFC, and if you default, the lender can acquire or sell your property. LAP can be predominantly helpful for self-employed professionals who own their own home, but they do not have a regular source of salary income.
LAP is generally sanctioned only against a residential property, but some banks provide loans against commercial properties as well.
You can also borrow the complete loan amount or then pay an EMI towards it. Alternatively, you can use an overdraft facility for a self-occupied house whereby you are charged interest only on the drawn down amount of the overdraft facility. You can get LAP through indiakaloan.com at lowest rates of interest.

Total Views: 63Word Count: 397See All articles From Author

Investing / Finance Articles

1. Tips For Credit Repair Services
Author: Martin King

2. 5 Benefits Of Hiring A Business Advisor
Author: Mohit Singh

3. What All Things One Needs To Know Before Choosing A Residential Mortgage Lender In Ontario?
Author: Steve Nicol

4. Think Twice Before Getting Financial Advice From Your Bank
Author: Simon

5. 5 Things To Know Before Applying For A Forex Card In India
Author: neha sharma

6. 5 Reasons Why You Need An Nri Bank Account
Author: neha sharma

7. What Is An Nro Account? It’s Features And Benefits
Author: neha sharma

8. 5 Innovative Mobile Payment Apps
Author: neha sharma

9. Personal Loan: It’s Benefits And Types
Author: neha sharma

10. Top 5 Travel Insurance Policies In India
Author: neha sharma

11. Electronic Fund Transfer: Its Types And Benefits
Author: neha sharma

12. How Does Car Loan Emi Calculator Work?
Author: neha sharma

13. What Is Nre Account? Its Features And Benefits
Author: neha sharma

14. Bank Account And Its Types
Author: neha sharma

15. 7 Things To Know Before Getting A Car Loan
Author: neha sharma

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: