8 Factors That Can Influence Your Loan Again Property! - PowerPoint PPT Presentation

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8 Factors That Can Influence Your Loan Again Property!


8 Factors That Can Influence Your Loan Again Property! – PowerPoint PPT presentation

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Title: 8 Factors That Can Influence Your Loan Again Property!

8 Factors that Can Influence Your Loan against
A loan against property is neither a personal
loan nor a business loan. Banks, NBFCs, and many
other financial institutions offer it, keeping
your own house or any other commercial property
as a mortgage. This mortgage loan against
property offers you 60 of the total market value
of your asset.
Every individual has to arrange money for their
personal and professional needs. When the
situation turns out terrible and you find no
other option, a loan against property would be
the better solution. However, it is not that easy
to get a loan against property. Certain factors
are affecting your eligibility criteria in
availing of the loan. You need to mind all of
them and ensure your application does not get
rejected. Now, have a look at various factors
influencing your loan against property.
  • 1. Applicant age This acts as one of the most
    important factors in interpreting your repayment
    capacity. If you are a senior citizen or retired,
    it is better to bring a co-applicant for applying
    on board so that your application might not get

  • 2. Employment status The lender would indeed
    check your employment status as you need to have
    a source of income so that they can trust you on
    lending a loan. If you don't have a regular
    source of income, there are high chances of your
    application getting rejected.
  • 3. Property documents The primary thing a Bank
    does before lending a lap (loan against property)
    is to check all your documents and verify any
    legal issues related to your asset. The papers
    should have all necessary permissions from
    governance bodies.

  • 4. Property Age and Insurance If yours is an
    ancient property, there could be structural
    collapse. The lenders will ask for property age
    details and investigate in detail. You can
    increase your probability of being eligible by
    having insurance for your asset. This is a
    crucial factor in providing a loan against
    property in Delhi.
  • 5. Credit history Your application will be
    approved only when you have a healthy and higher
    credit score. They will consider all your past
    repayment scores and reject if they find any
    defaults or delays in payments.

  • 6. Loan Tenure It is good to apply for a longer
    tenure in the case of a mortgage loan against the
    property to increase your chances of successful
  • 7. Good profile The lender sometimes may check
    your previous history of rejected applications
    and investigate more profound into the reasons
    for the same.
  • 8. Income Tax returns (ITR) ITR gives a clear
    picture of your income status. You need to have a
    consistent ITR filing for 3-4 years, increasing
    your chances of eligibility.

  • Most people opt for a loan against property in
    tough situations. So, you must maintain a very
    high profile and mind every factor. Even a small
    issue can affect your application as they check
    deeply while lending a loan against property in
    Delhi. Have a clear objective view of your
    profile and proceed further.

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