What is Lap ?

Lap is Loan Against Property. When we need money for personal use we take this type of loan. When lender gives money against the built house is called Lap. Loan money can be used anywhere whatever Daughter marriage, vehicle purchase & and any other property purchase. In this Rate of interest is higher than the normal home loan. Lender provides the 60 % of the market value of the property. Some company follows some rules:-

1. Property size must be greater then 50 sq yds

2. Property value must be greater than 20 lac.

3. Registered sale deed is mandate to procee the loan.

4. Proper dimensions should be mentioned in sale deed.

5. A long term property chain is required . ( ex. 13 yrs property records required )