Loan Against Property :-

A Loan Against Property (LAP) is a secured loan provided by lenders against the collateral of the borrower’s legally owned property. Typically, lenders offer a certain percentage of the property’s market value as the loan amount. Banks usually lend around 50% to 60% of the property's value, while some private lenders may offer up to 80%. Compared to personal or business loans, LAPs generally have lower interest rates and are disbursed more quickly.

Additionally, LAPs offer longer repayment tenures than personal loans, making the EMIs more manageable. Both salaried and self-employed individuals are eligible to apply for a LAP. The borrower’s repayment capacity is assessed based on factors like income, existing financial obligations, and credit history.

Key Features of a Loan Against Property:

Secured Loan:
The loan is secured by a mortgage on a property, which reduces the lender's risk and generally results in lower interest rates compared to unsecured loans.
High Loan Amount:
Since the loan is secured by property, borrowers can often access higher loan amounts, typically ranging from 50% to 80% of the property's current market value, depending on the lender’s policies.
Flexible Usage:
The funds obtained from a Loan Against Property can be used for various purposes, whether personal or business-related, without restrictions from the lender.
Longer Repayment Tenure:
LAPs generally offer longer repayment tenures, often extending up to 15-20 years. This makes the monthly instalments (EMIs) more manageable, even for large loan amounts.
Lower Interest Rates:
As a secured loan, LAPs typically have lower interest rates compared to personal loans or other unsecured forms of credit, making it a cost-effective financing option.
Ownership Retention:
Despite mortgaging the property, the borrower retains ownership and continues to use the property, whether for living or business operations.

Key Features of a Loan Against Property:

Expert Guidance and Tailored Solutions:
At Finnova Advisory, we provide personalised financial advice tailored to your specific needs. Our deep understanding of the Loan Against Property (LAP) process ensures that you receive the most suitable loan terms based on your unique financial situation and property value.
Access to a Wide Network of Lenders:
We have established strong relationships with a diverse range of lenders, including banks and private financial institutions. This extensive network allows us to connect you with the best lender, offering competitive interest rates and favourable terms that align with your financial goals.
Streamlined Application Process:
Navigating the LAP application process can be complex, but our team simplifies it for you. We handle everything from documentation to property valuation and lender negotiations, ensuring a smooth and efficient process, so you can focus on your other priorities.
Maximizing Loan Amount:
Finnova Advisory is committed to securing the maximum possible loan amount for you. We meticulously assess your property’s value and financial profile to present a strong case to lenders, helping you obtain the highest loan amount possible, up to the maximum percentage of your property's value.
Comprehensive Support Throughout the Loan Tenure:
Our services don’t end once the loan is disbursed. We provide ongoing support to help you manage your loan effectively, assist with any queries or issues that may arise, and offer advice on refinancing or adjusting your loan terms if needed.
Transparent and Ethical Practices:
At Finnova Advisory, we priorities transparency and integrity in all our dealings. We ensure that you fully understand the terms of your LAP and are informed about every step of the process, so there are no surprises. Our ethical approach ensures your interests are always at the forefront.

By partnering with Finnova Advisory for your Loan Against Property, you benefit from our expertise, extensive lender network, and commitment to delivering the best possible financial solutions tailored to your needs.