A loan against property (LAP) is exactly what the name implies — a loan given or disbursed against the mortgage of property. The loan is given as a certain percentage of the property’s market value, usually around 40 per cent to 75 per cent.
Loan against Property can be taken for following purposes:
- Business Expansion
- For Working Capital for any Company
- Getting your son/daughter married
- Sending your son/daughter for higher studies abroad
- Funding medical treatments
- Lease rental Discounting – where you will get funding on the bases in rental credited to your bank
Kind of Properties we are dealing with:
- Self-Occupied residential Property(SORP)
- Self-Occupied Commercial and Industrial Property(SOCP)
- Vacant Residential/Commercial/Industrial Property
- Rented Residential/Commercial/Industrial Property
- Against Vacant Plot
- Mixed Land Use