Loan against Property is a secured loan. Loan provide against any residential and commercial build up property or plot. In this loan banks mortgage the property. Loan against Property is a good product in market. We can use this loan for marriage, sudden emergency and well deserved holiday with family etc. Swastik Investment provide best service in Chandigarh, Mohali, Panchkula and Kharar.
Loan against Property:-
The loan amount of LAP usually varies between 40% and 70% of your property’s market value. The exact loan amount can go up to several crore of rupees. Opt for LAP if you have a high-value property and the upper limit on other loan options is proving inadequate to meet your needs. Do not opt for LAP for small loan amounts as keeping your property as lien for a small loan amount does not make any sense.
The tenure of LAPs can go up to as high as 15 years, thereby giving it an edge over short-tenured loans like car loans or personal loans. Longer loan tenure translates into lower EMIs, which in turn increases your EMI affordability.
Usually, the rate of interest can range anywhere between 10-14%.
In Seller Property Papers:-
* Up to 1% + S.Tax depend on bank to bank.
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