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Loan Against Property Eligibility

The Eligibility criteria for a loan against property eligibility varies for each individual whether you are salaried or self employed. Visit :- https://www.bajajfinserv.in/loan-against-property-eligibility-and-documents

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Loan Against Property Eligibility

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  1. LOAN AGAINST PROPERTY ELIGIBILITY

  2. LAP or Loan against property is a secured loan which you can avail by mortgaging your property. Banks and financial institutions provides loans against residential property, commercial property or land. It is a secured loan i.e in case of loan default bank can take over the property and use it to recover loan dues. However the ownership of property remains with owner throughout the loan tenure.

  3. ELIGIBILITY Most financial institutions have same rule and parameters to check your loan against property eligibility depending on your repayment capacity & proper legal and technical verifications of the property against which loan in mentioned. It includes physical visit to the property, ownership verification and valuation of property by a trusted valuer.

  4. MORTGAGE LOAN AGAINST PROPERTY ELIGIBILITY IS EVALUATED ON FOLLOWING BENCHMARKS: • Income - Must be a salaried or self employed individual with a stable income source. • Age - Must be between 25-70 years. • Credit score. • Total assets and liabilities. • No of dependants.

  5. DOCUMENTS REQUIRED FOR LOAN AGAINST PROPERTY:

  6. By using your property as security, you can easily avail a mortgage loan at cheaper interest rates than a unsecured personal loan, also the tenure of your loan against property may be up to 20 years. Bajaj Finserv lets you unlock the value of your property to enable you to fund all your financial necessities. Compare online between best mortgage loans from top lenders with lowest loan against property interest rates on Bajaj Finserv and opt the one best suited to you. Our on call experts are also here to help you at every step right till disbursal of your loan amount.

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