Mortgage Loan or LAP
Mortgage Loan or LAP (Loan Against Property) are term loans provided by banks and financial institutions, which are secured by a collateral security usually in the form of a property. The funds from a Loan Against Property can be used for creating long-term assets or for creating short assets based on the needs of the business. The collateral security in the form of a real estate property offered for the LAP plays an important role in the amount of loan sanctioned and terms. Banks and financial institutions prefer commercial and residential property with building as collateral security for the loan. Loan Against Property is usually sanctioned for a term of 3 to 7 years based on the borrower’s profile. The interest rate on Loan Against Property is usually higher than that of term loan facilities or working capital facilities.
Adroit Corporation can help your business apply and obtain sanction of Loan Against Property from banks. Once we obtain an understanding or your business or proposed business, our Financial Experts will then advice you suitably on the proposed quantum of loan against property, type of facilities and schemes available. Adroit corporation can also help you prepare a project report, apply to banks and obtain sanction of loans for your business.