Loan Against Property
Credit Success Financial Services is your trusted partner for Loan Against Property (LAP) solutions, committed to turning your valuable property assets into a financial resource for your needs. As a distinguished Direct Selling Agent (DSA), we specialize in providing tailored LAP options to individuals and businesses, offering a hassle-free borrowing experience.
How to Get Started
Getting started with Credit Success Financial Services for your Loan Against Property needs is easy. Contact us, and one of our experienced professionals will assist you through the entire process:
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- Consultation: We’ll discuss your financial goals, understand your needs, and determine the best LAP solution for you.
- Document Collection: We’ll guide you through the necessary documentation and assist with the application process.
- Lender Selection: Based on your requirements, we will help you choose the right lender from our extensive network.
- Approval and Disbursement: We’ll work diligently to secure approval for your LAP and ensure that you receive the funds in a timely manner.
- Post-Disbursement Support: Our commitment to you doesn’t end with the disbursement of funds. We’ll be there to support you with any queries or concerns you may have during the tenure of your loan.
Why Choose Credit Success Financial Services for LAP?
Expertise and Experience
With years of experience in the financial industry, our team of professionals possesses in-depth knowledge of the Loan Against Property market. We stay updated with the latest trends and regulations, ensuring that you receive the most accurate and up-to-date advice.
Tailored Solutions
We understand that every financial need is unique. That’s why we offer customized Loan Against Property solutions to suit your specific requirements. Our personalized approach ensures you get the best possible loan terms and interest rates.
Multiple Lender Partnerships
Credit Success Financial Services has established partnerships with a network of reputable financial institutions and banks. These partnerships enable us to provide you with a wide range of LAP options, so you can choose the one that aligns perfectly with your goals.
Quick and Hassle-Free Processing
We appreciate the urgency of your financial requirements. Our streamlined application and approval processes, coupled with our efficient team, ensure that you get access to funds as quickly as possible.
What Can You Use a Loan Against Property For?
Business Expansion
Debt Consolidation
Property Purchase
Education and Medical Expenses
Wedding Expenses
Home Renovation
Unforeseen Emergencies
Maximum limit for LAP
The maximum limit for a Loan Against Property (LAP) can vary depending on several factors, including your financial eligibility and the market value of the property. Banks and financial institutions typically consider the following points when calculating the maximum LAP limit:
Your Financial Eligibility
Banks assess your LAP eligibility based on your financial profile, including your income and existing financial obligations. You can generally plan your LAP EMI (Equated Monthly Installment) up to 75% of your net monthly income. This includes all your current financial commitments, such as existing loans and credit card payments.
Market Value of the Property
The maximum LAP limit is also influenced by the market value of the property you offer as collateral. Banks usually offer LAP up to a percentage of the property’s market value, subject to specific conditions. The maximum LAP limit is determined as follows:
• If the Loan amount is less than 30 lakh, you may be eligible for up to 90% of the property’s market value.
• If the Loan amount falls between 30 lakh and 75 lakh, you can typically secure up to 80% of the property’s market value.
• If the Loan amount exceeds 75 lakh, you may be eligible for up to 75% of the property’s market value.
Eligibility criteria and documents required
Anyone can apply for our loan against property as long as they meet the criteria mentioned below.
Eligibility criteria
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- Nationality: You must be an Indian citizen residing in India with property in a city we operate in.
- Age: Minimum age: 25 years* (18 years for non-financial property owners)
- Maximum age: 85 years* (including non-financial property owners)
- Age of the individual applicant/ co-applicant at the time of loan maturity.
- Higher age of co-applicant may be considered up to 95 years basis 2nd generation (legal heir) meeting age norms and to be taken as co-applicant on loan structure.
- CIBIL Score: A CIBIL Score of 700 or higher is ideal to get an approved loan against property.
- Occupation: Salaried, self-employed professionals like doctors, and self-employed non-professionals are eligible to apply.
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Documents required
Proof of identity/ residence – Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
Proof of income
Property-related documents
Proof of business (for self-employed applicants)
Account statements for the last 6 months