Loan Against Property
If you're looking for funding and have a commercial or residential property or land which you can
offer as collateral,
then Mansa Mata Finance's Loan against Property may be the right fit for your needs. Mansa Mata
Finance offers
hassle-free and speedy Loans against Property. In our product offerings, we are pleased to present
Loans against
property. With attractive interest rates, transparency in dealings, quick disbursement and minimal
paper work, it's our
way of taking you a step closer towards fulfilling your needs.
FEATURES
- For your business or personal needs
- Property can be residential or commercial or land
- Fixed rate of interest
- Security is a first charge registered mortgage of the property and/ or such other collateral securities as may be deemed fit by Mansa Mata Finance
BENEFITS
- Attractive and competitive rate of interest
- Hassle-free documentation process
- Quick turn-around time
- Professional and transparent approach
- You must be an Indian Resident
- Loan To Value ratio upto 50% of the valuation report given by designated value
- Clear Marketable Title over property
- Above 18 years of age at the time of commencement of the loan
- Both for salaried and self-employed individuals
- Income / cash flows to establish source of repayment
- Nominal processing fees
- Stamp Duty / Registration Charges as applicable
- CERSAI registration fees + service tax as applicable
- Legal and valuation charges at actual
- Cheque bounce charges: Rs. 1000/-
- Application form
- Basic KYC Documents
- Loan agreement
- Mortgage Deed
- Copy of registration and title deed of property to be mortgaged
- Income documents & Bank statement
- FATCA Declaration
- Passport Size Photograph
- What is Loan against Property?
Loan against property is a loan given by creating a charge over any of your submitted properties which is then mortgaged. - What are the properties against which Loan can be availed?
You can avail the Loan against the following properties:- Loan Against Commercial Property
- Loan Against Residential Property
- Loan Against Plot
- Lease Rental Discounting
- When will the loan be disbursed?
Disbursement can only be made after credit, technical and legal appraisals of the property have been completed and approved, besides execution of loan documents and creation of Mansa Mata Finance's charge over property. The same may be done either by deposit of original property documents or by registered mortgage or both. - Can I repay the loan ahead of schedule?
The same shall be decided on a case to case basis. - What are the purposes for which I can use the loan proceeds?
To meet borrower's liquidity mismatch (Proceeds of loan amount not to be used for any speculative purposes, whatsoever, including speculation on real estate and equity shares). A Certificate regarding the end use of funds should be obtained stating that the funds will be utilised for the purposes required in the usual course of business and not utilised for speculative, real estate purposes.