Loan Against Property(LAP) is a mortgage loan, where the property is pledged to the lending institution for a certain tenure. The tenure for this loan is normally much shorter than that of a housing loan. However, basis the lending institution, the tenure may be extended as the case may be.

Life is such that it throws surprises your way when you least expect it. At other times, it offers a few warning signs of impending big events. Either way, it cannot be disputed that one needs money to finance a lot of personal and professional goals. However, one may not always have the means to raise finances quickly, and this can impact the course of major milestones.

A good way to arrange for funding is to take a Loan Against Property (LAP). This is a loan offered to both individuals and companies against their residential or commercial property.

Lending companies such as Aditya Birla Finance look for the applicant's credentials, income level, repayment capability, credit history, value of the property, existing loans on the property (if any), before approving a Loan Against Property. We offer super-fast sanctions and easy documentation. The approval process for Loan Against Property is easier because the property credentials are already in place via the agreement, title documents, etc.

Loans against property is a good financing solution for those requiring quick funding without selling off their precious property. The loan is granted fairly quickly, while the applicant retains all rights and accruements over the property as before – the lender does not assume any part of ownership over the pledged security. The property may continue to be leased out both during and after the loan application is approved.

So whether you need money to finance your child's wedding or invest in a bigger office space, you should explore this option.

Aditya Birla Finance (ABFL) performs rigorous checks on the property, before proceeding further with the application. The tenure of this loan does not exceed 15 years, and the maximum credit extended is Rs 75 crore (70% of residential property value, 60% of commercial property value). Also, ABFL does not charge pre-payment charges till up to maximum 25% of outstanding loan.