Loan Against Property is Loan availed by keeping one or more of your properties as a Security with the Lender, in the form of a Registered Mortgage.
The amount of Loan will depend on the Market Value of the Property which will be mortgaged with the Bank and the Borrower's repayment capacity. Typically, the Lender will sanction upto 75% of the market value of the property.
The Documents are:
The TAT (Turn Around Time) for a Loan Against Property could be anywhere between 15days and a Month. It may take more time depending on various factors such as the title of the property, CIBIL of the borrower, financials of the borrower etc.
Currently, the maximum tenure for which you can take a Loan Against Property is 180 Months (15 Years).
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