About Loan Against Property
A sudden requirement of funds is an unavoidable circumstance arising in professional or personal life. Whether a personal necessity (hospitalisation, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments. In this context, it is imperative to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinising the validity of the said property and its current market value.
Why Loan Against Property (LAP)?
Aditya Birla Housing Finance extends the Loans Against Property (LAP) facility to enable the borrower to liquidate his owned property without selling it. The necessary funds are raised in a short period of time, subject to valuation of the property and the submitted documents. The loan helps the borrower tide over a financial crisis with minimum risk.
Why Loan Against Property (LAP)?
If you are in immediate need of cash for personal or business needs, taking an LAP can transpire into an excellent financial decision. All the rights and accruements over the pledged property remain with you during the loan period. You can also take a property loan on the assets whose ownership is in your name but is leased out by you. However, you are unable to sell the pledged property during the loan period. Hence, for a home restoration project or the purchase of a new commercial premises, the LAP facility is a worthy financial product to explore.
Features & Benefits
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Loan tenure up to 20 years*
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Loan amount: Up to 60% of property value in case of commercial property.
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Loan amount: Up to 70% of property value in case of residential property.
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Loan tenure up to 20 years*
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Loan amount: Up to 60% of property value in case of commercial property.
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Loan amount: Up to 70% of property value in case of residential property.
* Disclaimer - Please ask us for the required set of documents at the time of inquiry to know your loan against property eligibility. All loans will be at the sole discretion of ABHFL