Mortgage Loans

Salaried or self-employed individuals and pensioners can avail a loan against property provided they satisfy the other eligibility requirements. NRIs also would be able to avail loans against property.

All your existing obligations would be deducted to calculate your loan eligibility. So your existing loans would affect the maximum loan amount which you would be able to get

A co-applicant would help you in increasing the maximum loan amount which you would be able to avail as both your incomes would be taken into account.

You can use a LAP for anything suitable, as it is not tied to a specific end use. But it is necessary to mention the end use of the loan to the bank. Some of the more common end uses include consolidation of existing loans, purchase of land, purchase/ construction of commercial property, marriage expenses, medical expenses, education expenses, business expansion, etc.

Residential properties like individual houses and apartments and commercial properties like office space and retail space can be provided as collateral. Industrial properties and urban plots in government layouts may also be considered on a case to case basis.