Other Loans against Prop­erty

Consumer Voice - - Home Loans -

Many of the banks/FIs stud­ied in this ex­er­cise are also of­fer­ing the fol­low­ing loans: 1) Loans to un­der­take re­pair/ren­o­vate the ex­ist­ing house where you own and live (called ‘home im­prove­ment loans’) 2) Business or per­sonal loan/cash credit limit (up to a cer­tain amount) against cre­ation of mort­gage (a kind of charge on the prop­erty) 3) Ad­di­tion of rooms/ex­ten­sion in the ex­ist­ing

prop­erty where you own and live 4) Takeover of loan from one bank/FI to another (in­stances where the new-en­trant bank/FI is of­fer­ing bet­ter loan terms such as rate of in­ter­est, ad­di­tional loan funds)

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