Anonymous
Anonymous Poster
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| posted: 2/25/2019 at 4:16:25 AM ET
A loan against property gives you the best value of your property. It unlocks the real potential of the property. Along with the general use of a property, it makes you get a loan at a lower interest rate. A property can become very good collateral of secured loans. The borrower can retain the ownership of the property while availing a loan against the same property.
The loan amount which one gets through a loan against property depends on the price of property in the present market. One can get a loan amount of up to 70% of the property value. The loan amount can be as high as 5 crores.
Being a secured loan, loan against property comes with collateral or a security, which is your own residential or a commercial property. The rate of interest in loan against property is lowest as compare to other loans like personal loan. Apart from the rate of interest there are certain charges which are levied on loan against property which you should have an idea about
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