9 August 2018
There are many forms of loans available to you in times of financial troubles. But the loan amount in some cases might not just be sufficient. In such situations, loan against property can be of great help. Loan against property is a fantastic way to arrange for funds when you want to meet any type of high expenses.
Dravya Financial is a premier financial services firm offering business loan against property In Mumbai, Pune, Ahmedabad and Bengaluru. The firm also specializes in construction loan/finance for builders in Mumbai, Pune, Ahmedabad and Bengaluru. Let’ find out what a LAP is and how you can apply for it.
A LAP is a form of loan that is granted against a property kept as collateral. With the property as security, the borrower provides a guarantee of repayment thus making LAP a secured loan.
The loan amount offered depends on the valuation of the property kept as collateral. Usually, lending institutes sanction a loan of, approximately, 65% of the value of the property.
The rate of interest for loan against property ranges from 12% to 16%.
The tenure for loan against property can be up to 15 years.
LAP is available against:
General assessment includes your financial information, value of the property and your ability for repayment. Along with being an Indian citizen or from an Indian origin, other factors assessed include:
Looking to avail loan against property in India? We at Dravya Financial offer expert financial services pertaining to asset-backed lending. We extend financing to a wide range of companies and advise them on capital raising transactions, including loan against property, private and public placements, debt financing and structured products.