L & T Housing Finance - 9.60% for Loan Against Property - Loan Against Commercial Property

L&T Housing Finance Loan Against Property:

L&T Housing Finance offers Loan Against Property starting from 9.60% p.a. onwards* onwards for loan amounts of up to Rs 20 crore and tenures of up to 20 years.

It offers LAP against residential properties (self-occupied, rented as well as vacant), and LAP against industrial properties to all self-employed non-professionals owning manufacturing units in major industrial areas.

Other properties accepted as collateral for LAP include warehouses, god owns, banquets, nursing homes, farm houses, guest houses, etc.

Interest Rates	9.60% p.a. onwards*
Loan Amount	Up to Rs 20 crore
Tenure	Up to 20 years
Processing Fee	Up to 2% of loan amount

 

Taking a loan from L&T Housing Finance has the following benefits:

1. Loan tenure up to 20 years

2. Funding available from as little as Rs. 3 lakhs to 7.5 crores

3. Quick and transparent processing

4. Attractive interest rates

 

L&T Housing Finance Loan against Property:

Apply:

If you want to get a loan against property from L&T Housing Finance, the process to get the loan is fairly easy.

All you need to do is to apply for a home loan at Apnarupee.com.

We are a channel partner of all top banks in India including HDFC, SBI, Axis Bank, ICICI, etc.

Your loan application will be processed and L&T Housing Finance (Loan against Property) Loans representatives will get in touch to begin the process of getting a home loan.

You will also be assisted by Apnarupee.com housing loan advisor to ensure that all the lending process is smooth, quick and you get the best loan against property from L&T Housing Finance.

You can also do a comparison of L&T Housing Finance Loan against property rates and other charges using the Apnarupee.com comparison tool.

Once you apply online, you can check the real-time status of your loan against property in your customer account section of Apnarupee.com.

 

Factors Affecting L&T Housing Finance Loan against Property Interest Rates:

Loan amount: 

Property loan rates in L&T Housing Finance depend upon the loan amount you apply.

 

Your Net Monthly Income: 

Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.

 

Type of loan opted for: 

L&T Housing Finance offers differential rates for customer’s different profiles and also fixed and floating rate schemes.

Loan against property interest rates may be higher or lower for special loan products.

 

Type of property: 

Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.

 

Your profession: 

L&T Housing Finance may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman.

A self-employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or

business compared to salaried people who will most likely take a mortgage loan for his personal purposes.

 

L&T Housing Finance Loan Against Property Documents Required:

For Self-Employed:

1. Filled up loan application form

2. 2 Passport Size Photo

3. ITR of last 3 years

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

6. Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

 

For Salaried employee:

1. Filled up loan application form

2. 2 Passport Size Photo

3. ITR of last 2 years

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

6. Income Documents – 6 months’ pay slip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

 

Property documents:

1. Registered Sale Deed/ Conveyance/ Lease Deed

2. Past Sale Deeds Chain (each transaction in respect of this property since first allotment

3. Latest House Tax Return/ Receipt

4. Approved Building Plan from Municipal Corporation

 

L&T Housing Finance loan Against property Schemes:

1. LAP on Residential Property:

Purpose: Loan against self-occupied, rented and vacant residential propert

Loan Amount:  Rs 10 lakh-Rs 10 crore

Tenure: Up to 20 years.

 

2. LAP on Commercial Property

Purpose: Loan to owners of commercial property for meeting their business and personal needs

Loan Amount: Rs 10 lakh-Rs 20 crore.

 

Frequently Asked Questions:

 

Q. Who is eligible to apply for a loan?

Ans. Any salaried or self-employed Indian national who is credit worthy and has a suitable net worth and repayment capacity is eligible to apply for a loan against property from L&T Finance.

He / she should be over 22 years of age at the commencement of the loan.

 

Q. Is there a pre-payment option for L&T Finance LAP?

Ans. Yes. You can prepay the loan, subject to terms & conditions specified at the time of application of the loan.

 

Q. What is the maximum loan amount that I can avail?

Ans. The maximum loan amount depends on the market value of the property as assessed by L&T Finance.

It will specify the exact amount after approval and successful verification.

 

Q. What are the documents required to apply for L&T Housing Finance Loan against property?
 

Ans. Three types of documents required to apply for a L&T Housing Finance mortgage loan- KYC documents, financial documents and property documents

1. KYC Documents- photo identity proof, residence address proof, office address proof, to meet these requirements a borrower can provide Aadhaar Card, PAN Card, shop and establishment certificate etc.

2. Financial document for self-employed borrowers- Audited report, ITR, Balance sheet for latest 3 financial years, banks statements of all the accounts for last 1 year, business profile etc.

Financial document for salaried borrowers – latest 3 month’s salary slips, latest 2 years ITR, bank statement of salary account for 1 years and details of all the loans.

3. Copy of property documents.