How To Get A Loan Against Property
Loan Against Property allows you to secure a personal loan by pledging your property as collateral or security. These loans are also referred to as mortgage loans.
How is a loan against property eligibility calculated?
Your eligibility for a loan against property differs from one financial organization to the other. Unicoins will help set the wheel running so that you can get a loan by mortgaging your property. The limit for loans against property in most cases does not exceed 50% of the market value of the property. You no longer need to wonder how to get a loan against property as we at Unicoins can help you with that.
What Is A Loan Against Property?
Read on to learn about loan against property & how it works. Loan against property is one way of securing funds when you own a property that can be placed as collateral. The general eligibility to secure a loan against property includes:
- Age Criteria: Between 18 to 70 years
- Income Source: A monthly salary
- Experience: Minimum work experience of three years
The loan against property details changes from provider to provider. This is where we come in. Since Unicoins is well versed in the loan against property options available in the market, we can help you choose the best deal. Once you understand how a loan against property works, you will find it easy to secure a loan to help with funds.
- Lower rate of interest
- Simple documentation and approval process
- Flexibility in repayment
- Continuous ownership of mortgaged property
- Availability of pre-closure option
- Optimal utilization of the property
Many individuals have questions like can I get a loan against property, what documents I need to provide, what is the best interest rate, etc. This is where Unicoins guides you through the process. Apart from helping you choose the best option, we can also guide you to put together the documents required for the loan against the property so that you can apply for a loan without any delay. It is time to stop thinking if a loan against property is a good idea and apply for one with Unicoins’ help.
There are different types of loans against property available today. It is possible for you to apply for any of these loans against your property and fulfill your financial requirement. Here is a list of loans you can avail (but not limited to):
- Loan against Property for Self-employed
- Loan against Property for Salaried Employees
- Loan against Property for Home Renovation
- Loan against Property for Education
- Loan against Property for Wedding
- Loan against Property for Debt Consolidation
- Loan against Property Balance Transfer
- Loan against Property for Chartered Accountants
- Loan against Property for Doctors
Unicoins can help you find the best type of loan for an investment property. You no longer have to wonder about what kind of loan for the property you should opt for. Similarly, we can also address your question of where to get a loan against property as we can guide you to the right source that offers the best interest rates.
The process of taking a loan against property involves filling out a form with personal details, current employment details, and property details. Before filling out the details, it is a good idea to check with the loan against property age limit and other eligibility factors. Unicoins will help you find a loan against a property interest rate that is favourable and doesn’t affect your financial plan too much in the long run. If you are wondering whether a loan against property is taxable or not, you can relax. According to the Income Tax Act, you can avail of tax benefits on the interest you have paid for a loan against property.
Unicoins Assists You In Securing A Loan Against Property
It is essential to understand what the conditions to avail a loan against property are. At Unicoins, we have all the information that’s required. This wealth of knowledge becomes handy when you have a plethora of different financial organizations and loan choices today.
Want to avail a loan against property? Unicoins can help you make well-informed decisions. For any guidance on loans against property or queries call Unicoins today!