You must be an Indian citizen and provide valid documents as proof of your nationality.
Lenders require details about your profession and income to assess your financial stability and determine your creditworthiness.
Your three-digit credit score, reflecting your loan repayment and credit usage history, plays a crucial role in establishing your eligibility for a Loan Against Property (LAP).
A strong relationship with your lender improves your chances of loan approval. It may also lead to better terms, including higher loan amounts, favorable interest rates, and reduced processing fees.
You must be the legal owner of the property. In the case of a co-applicant, proof of joint ownership with a clear title is required. Additionally, the property must not be pledged as collateral with another financial institution.
The lender determines your loan amount and conditions based on the market value of the property you pledge. The property's value must exceed the loan amount calculated on its current worth.
