What is LAP? Are you aware of the term LAP? LAP stands for the loan against property. It is a viable funding solution that can help you borrow a considerable loan amount.
Let’s know what is a loan against property in this quick post!
What is LAP? The loan against property is a funding option that is given on the basis of Loan to Value (LTV) of your property that you wish to mortgage. It is a secured loan, and it means that you can deal with an affordable rate of interest and pay lower EMIs.
What benefits can you avail by going for LAP?
A large loan amount
Based on the value of the property to be mortgaged, eligibility and other terms, you can borrow a bigger loan amount running in crores.
Faster loan approval
If you have the creditworthiness, then you can get a faster loan approval within 48 hours.
Funds disbursal within 4 days
You can get the loan amount credited into your bank account within 4 days after the approval.
Flexible repayment tenure
You can repay the mortgage loan or loan against property over a flexible repayment tenure ranging 2-20 years.
No restrictions on how you use the money
It is up to you to use the loan money for purposes as per your needs. There are no restrictions on the way you can use it.
If you are looking to borrow a large amount, then you can check out your LAP loan eligibility today.
You can do that by using the loan against property eligibility calculator online on a leading lender’s website for free.
