Published on Aug 9, 2019Updated on Oct 18, 2023
Having a home can be a blessing in more ways than one. It gives you a roof over your head, or you could rent it out for additional income. Your hard-earned property can also help obtain a large sum of funds for a significant event. Expenses for personal events such as a milestone birthday, child's higher education or wedding occur suddenly and require arranging funds at short notice. One of the fastest and hassle-free ways to arrange for these funds is to apply for a mortgage loan.
A property loan is a secured loan that disburses funds against property as collateral. The amount of funds disbursed depends on various factors including the current market value of the property, your current income, debt to income ratio, etc.
A loan against property can be your best bet for funding personal expenses because:
While applying for a loan against property, you would have to furnish some documents related to your identity, income and property along with your application form. Depending on the verification and processing of application fees, the terms of the loan will be finalised. It is advisable to consult a Relationship Manager to understand better how you can enhance your loan eligibility.
mortgage can help you realise the financial potential of your residential or even your commercial property. You can choose from a range of property loans to meet your individual expenses. Visit a reputed mortgage provider who has a wide reach across the country and a significant network of branches. Their years of experience and expertise will help you obtain a fully personalised mortgage with exclusive features and benefits. They may also offer value additions such as balance transfer and additional finance. Ensure that the financial institution is reliable as they will be in possession of your property documents and records.
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*Terms and Conditions apply. Loans are disbursed at the discretion of SMFG India Credit.