Description:Loans have become a convenient financial solution for arranging funds to meet any kind of need, be it personal or professional. Be it buying a new house, or car, arranging money for your child's education, or any other purpose, you can get a loan as per your requirement. There are many types of... moreLoans have become a convenient financial solution for arranging funds to meet any kind of need, be it personal or professional. Be it buying a new house, or car, arranging money for your child's education, or any other purpose, you can get a loan as per your requirement. There are many types of loans available in the market, such as – personal loans, gold loans, wedding loans, etc., but many people do not know about loans against property. Do you know what kind of loan this is? Let's find out.
What is a loan against property?
A Loan Against Property, as the name suggests, is a loan that is either owned by the applicant or by his guarantor, who is usually the parent. is given in exchange for the value of the property. This property is mortgaged, which means that the property papers and legal ownership of the property remain with the bank till the loan is repaid.
