Falling short of cash? Get a Loan Against Property to fulfill your dreams

Whenever we think about investing the first thing that comes to our mind is to invest in a property. We feel that this is the safest and the easiest kind of investment for us. And certainly, that holds true, we can use our property in times of our needs. Hence we choose to make the right investments in order to secure our future.

A property investment need not always be to buy residential property (home); it can also be the purchase of a commercial property as well including a shop, office or even a land for that matter.

Majority of us think that we need to always sell our property in order to fulfill our needs, but that isn’t true.

Here the role of LAP or Loan Against Property comes into place. Many lenders provide various schemes based on the types of property that one owns. For instance LAP for Residential Property, LAP for Commercial Property and others. Explore Fedfina to choose the right LAP schemes for you.

With Loan Against Property from Fedfina, you have the flexibility to use the loan for varied needs such as business expansion, marriage, debt consolidation, asset acquisition, medical expenses or any other financial requirements.

Simply put together LAP is a very easy option of mortgaging your property for a loan. Lenders often disburse loan up to 60% of the total market value of the mortgaged property however some may even give more depending upon your eligibility. You can apply for LAP with a co-applicant as well. Here income proof and other valid documents of both the applicants shall be considered. The maximum term of your loan can be up to 15 years.

Things to note:

1. Compare and choose a lender who offers the best rates  while considering other parameters
2. You can avail a loan upto 15 years
3. Banks do not give loans on disputed properties or when papers are not clear
4. LAP loan interest payments for business needs can be set off as expenses in the financial books
5. Banks verify the track records and payment eligibility of the borrower

Eligibility

Self Employed

• You should be a self-employed individual with a regular source of income.
• You should be a resident of India.

Salaried

• You should be a salaried employee in an MNC, a private company or the public sector.
• You should be a resident of India.                                                                

Who all can avail LAP?

• Self Employed
• Salaried
• Partnership Firms
• Companies
• Listed Companies                                                 

If you meet the above mentioned criteria and wish to apply for Loan Against Property click here