Author: rameshkumar01

Property loans or loans against property (LAP) are loans that property owners avail of by pledging a property they own as collateral. Property loans are backed by collateral, which could be a residential or commercial property or even a piece of land. Under LAP, property owners can avail of up to 75% of their property’s value as collateral.Mortgage loan interest rates are low due to the presence of the collateral and the money comes with no end-use restrictions. The loan tenor can go up to 20 years, depending on the lender you have chosen. However, since property loans require loan borrowers to pledge a property they own as security,…