Loan Against Property

Got that business idea you need funding for? Do you need to invest in your business expansion? Do you just need relatively cheap funds for any purpose? If you have a loan-free property then probably a Loan Against Property is the answer for you. Popularly known as LAP, these loans are a convenient means to access funds at interest rates lower than personal loans or other forms of unsecured loans. To avail such loans, you offer an existing property as a security or collateral against which the lender gives you a loan. The current market value of the property determines how much loan you can avail against the property. Such loans allow the owners of properties to leverage the value of their existing properties to raise funds for a variety of reasons. The lender will also check for repayment ability of the loan being availed.