Loan Against Property
LAP can be used for a variety of purposes, such as financing a business, paying for a child’s education, consolidating debt, or meeting personal financial needs. The loan amount, interest rate, and repayment terms for LAP vary depending on the lender and the borrower’s creditworthiness.
To be eligible for LAP, the borrower must own a property and have a good credit history.
The lender will conduct a valuation of the property and may require additional documentation, such as proof of income and employment, before approving the loan.
What is a Loan Against Property ?
Loan against property (LAP) is a type of secured loan that allows individuals to borrow funds by keeping their property as collateral. The property can be residential or commercial, and the loan amount is usually a percentage of the property’s market value.
Benefits of Loan Against Property?
- Affordable Rates
- Quick approval
- Transparent fees
- Customer Support