Loan against property is the easiest way to raise funds for business. Banks & FIs prefer to give loan against property. LAP has many disadvantages.
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Business Loans by way of LAP (Loan Against Property).
Entrepreneurs can raise funds for Business by way of LAP “Loan against Property”. Loan against Property is the most preferred way for Banks or any Financial Institution while giving Loans of any type. Banks and Financial Institutions more often prefer Loan against Property & often force people to take Loan against Property since this is an asset backed security. If you don’t adopt a Safe & Smart Strategy while taking Loan against Property, you are sure to lose your Property since the lending banks would have evaluated & estimated your property to a very low value. Even at slight default, the banks classify your account as NPA Non Performing Asset & auction off your property & collect their dues, mercilessly.
In this video tutorial, we discuss various smart strategies, a business owner & a common man has to adopt to come out safely & unscathed out of LAP & get your properties released from the clutches of banks & financial institutions or else you are sure to lose your properties.
LAP is “Loans against your Property”. Banks or any financial institutions will give you loan against your House & Personal property. This is also called as Loans against your Fixed Assets and Immovable Properties. They will mortgage your property & grant loan approximately about 50% of the property value. In case, if your financial transactions are good they will consider upto even 70% of the market value.
Here you will be pledging all your original documents of the property with the bank & there is no way that you can do any other type of transaction on the property.
Normally this is quite a huge sum that anybody can get. The huge money that is got should be utilized very constructively and for very useful purposes. Here a monthly EMI will be fixed covering both the principal & Interest and the borrower must ensure the repayments are done very regularly. If there is serious default, the borrower can even lose the entire property as the financial institutions will have all the powers to own your property or simply auction to the general public to collect all their dues & other outstanding.