LOANMONEY assist you in obtaining Loan Against Property (LAP) by mortgaging your residential house or commercial property or industrial property (ies), to get your cash liquidity at cheap rates. It is secured loan on property where bank gives highest loan possible on your loan repayment capacity with lowest Rate Of Interest (ROI)
Salaried / Self Employed/ Professional can avail loan against property and land from Banks/ NBFC, which in turn keeps collateral security of property/ house / factory by mortgaging it. Loan amount is repaid as Equated Monthly Instalment (EMI)
Comparison of best deals for loans with Rate of Interest (ROI), tenure, loan amount from various banks and NBFC is provided by loanmoney.in for your ready references.
Mortgage or Loan against property is given as a certain percentage of the Market Value (M.V/ L.T.V Loan to Value) of the property which is generally between 50% and 65%. In case of land/ Commercial Property value to loan amount varies between 50 -65%. This loan belongs to the category of secured loan where there is a guarantee given by the borrower who uses the property as a collateral security. In the event of non paying the loan on schedule, bank after serving proper notices can repossess the property.
Finance on property mortgage can be from 10 Lacs to 5 Cr: It is calculated on EMI paying capacity of the borrower. In general, a person is assumed to be eligible to pay EMI up to 50-55% of total monthly earnings. Therefore for the purpose of obtaining the maximum loan amount a borrower is eligible to obtained by considering:-
Loan on Property has the greatest advantage over personal loan in terms of :-