A loan against property (LAP) lets you borrow by mortgaging a residential or commercial property you own. Because it is secured, it usually offers a larger amount, longer tenure and lower interest than unsecured loans. Business owners often use LAP for working capital or expansion.
Eligibility
- Clear ownership of a property in your name (or co-owners as co-applicants)
- Stable income — salaried or business
- Good credit history
Loan amount and tenure
Lenders lend a percentage of the property’s market value, decided after valuation, and also check your repayment capacity. Tenures are typically longer than personal or business loans.
Documents
- KYC of all applicants and co-owners
- Income proof: salary slips and Form 16, or ITRs and financials for business owners
- Bank statements
- Property papers: title deed, chain documents, approved plan, latest tax receipts
Legal and technical checks
The lender verifies the title and approvals and values the property. Clean, complete property papers speed up approval.
Risks to consider
Your property is at stake if you default. Borrow only what you can repay, read prepayment and foreclosure terms, and compare total cost including fees.
Talk to ATTPL Finance
See our loan against property service, business loans or contact us. Read our home loan documents checklist. For property legal checks, see ATTPL Legal.
