Why Loan Against Property From Us?

Business Expansion: All the successful businessman wants to expand his business. Business expansion requires expansion capital. Finding expansion capital can be a frustrating experience. It can be far less if you owned a residential or commercial property. You can borrow loan against property at lowest interest rate from bank or NBFC and utilized loan amount towards your business expansion.

Consolidation of other Loans: You may have taken so many personal loan, business loan, gold loan etc. from bank or NBFC. These loans were offered by bank or NBFC for shorter period on high rate of interest resulting on heavy EMI. These EMI may eat your business liquidity also. As there are many small loans, so you have to keep extra resource to manage repayment of all these loans. As loan against property in Delhi NCR is offered by bank or NBFC comparatively at lower rate of interest for longer period of time resulting in low EMI. You can take loan against property and repay all these small loans and keep a single EMI.

Personal Expenses: Life is full of uncertainty. We have to make certain expenditure for which we have not made any planning. Event such as medical emergency, child higher education, daughter marriage, etc. required a lot of money. Either one has to sell his property or borrow loan against property from bank or NBFC to meet these expenses.

Type of loan against property depends upon types of property, an individual want to mortgage with bank or NBFC. As per the need of the customer banks or NBFC offers different types of loan against property at lower rate of interest.

Each loan against property in Delhi NCR has its unique feature and advantage, so it is always advisable to consult with a professional consultant before taking a loan against property from private financer in Delhi.

If you need a professional guidance then contact Sanuk Financial Services. We have unique solution for all your financial needs.

Loan against Property (Residential): When borrower wants loan against his residential property from bank or NBFC then it is called loan against residential property. As per the usage of residential property it is sub-divided into following categories:

• Loan Against Self Occupied Residential Property: When borrower took loan from bank or NBFC against his self owned property, where he resides himself or along with his family members, is called loan against self occupied residential property. Bank or NBFC offer very low rate of interest vary in between 8.50% p.a. to 14% p.a. on self occupied residential property, and funding higher loan amount up-to 60% to 80% of market value of property, depends upon profile of the customer and his credit worthiness. There are few banks or NBFC which offers loan up-to 100% market value of the property on certain terms and conditions.
  To avail maximum loan amount on lower rate of interest, you can take Sanuk Financial Services professional consultancy. We will be there with you for your each step.
• Loan Against Rented Property: When borrower took loan from bank or NBFC against his let out property, is called loan against rented property. Rate of interest on loan against rented property is comparatively higher than loan against self occupied residential property. Rate of interest varies from lender to lender. It is usually in between 10% p.a. to 15% p.a., and funding loan amount up-to 60% to 70% of market value of property, depends upon profile of the customer and his credit worthiness.
• Loan Against Vaccant Property: When borrower took loan from bank or NBFC against his vacant residential property then it is called loan against vacant property. Rate of interest is higher generally in between 11% p.a. to 16% p.a., and funding loan amount up-to 50% to 60% of market value of property, depends upon profile of the customer and his credit worthiness.

Loan Against Property (Commercial): When borrower took loan against his commercial property, i.e. office, shop, showroom etc. from bank or NBFC then it is called loan against commercial property. As per the usage of commercial property it is sub-divided into following categories:

• Loan Against Self Occupied Commercial Property: When borrower took loan from bank or NBFC against his self owned office, shop or showroom etc which he utilized for his owned business activity, is called loan against self occupied commercial property. Bank or NBFC offer very low rate of interest vary in between 10% p.a. to 14% p.a. on self occupied commercial property, and funding higher loan amount up-to 55% to 70% of market value of property, depends upon profile of the customer and his credit worthiness.
  To avail maximum loan amount on lower rate of interest, you can take Sanuk Financial Services professional consultancy.
• Loan Against Rented Commercial Property: When borrower took loan from bank or NBFC against his commercial let out property, is called loan against rented commercial property. Rate of interest on loan against commercial rented property is comparatively higher than loan against self occupied commercial property. Rate of interest varies from lender to lender. It is usually in between 11% p.a. to 15% p.a., and funding loan amount up-to 55% to 65% of market value of property, depends upon profile of the customer and his credit worthiness.
• Loan Against Vaccant Commercial Property: When borrower took loan from bank or NBFC against his vacant commercial property then it is called loan against vacant commercial property. Rate of interest is higher, generally in between 12% p.a. to 16% p.a., and funding loan amount up-to 45% to 55% of market value of property, depends upon profile of the customer and his credit worthiness.

Loan Against Plot: When borrower took loan against vacant land from bank or NBFC then it is called loan against plot. There are few banks that provides loan against plot. Rate of interest varies in between 12% p.a. to 16% p.a. Bank or NBFC extend loan up-to 35% to 50% of market value of property.

Loan against property is an agreement between borrower and the lender (bank or NBFC) that regulates the terms of loan. All the bank or NBFC have their own loan eligibility criteria but there are some common loan eligibility criteria which borrower has to fulfill to avail loan against property from bank or NBFC.

Following are some key important factors which would be checked by bank or NBFC to accept or reject the loan against property application:

• Age: At the time of loan against property application, applicant must be 21 years or above but not more than 60 or 65 years because repayment of the loan has to be completed on or before 60 or 65 years of borrower age.
• Employment Continuity: Bank or NBFC checks employment continuity of an individual who is applying for loan against property. An individual should have 3 years of working experience in the business or employment. A regular source of income, ensure the lender regular repayment of their loan EMI.
• Cibil Score: A loan against property borrower who is having good cibil score will get quick loan from the bank or NBFC. Cibil score is a decisioning factor for sanctioning or rejecting loan against property applications.
• Valid, Clear And Marketable Title Deeds Of Property: A loan against property borrower must be having valid, clear and marketable title deeds of entire chain of the property along with approved sanction plan or map. The ownership and physical possession of the property lies with the borrower only.