Loan against property or Property Loan, as it is often referred to, is a loan taken by pledging your existing property as a security. Loans against property can come in handy when other sources of funding get exhausted.
It is important to understand that a loan against property is different from a mortgage. While a mortgage is a bank loan taken to buy a property, a loan against property is a loan secured from the bank by putting up your existing property as a security against the loan.
Depending upon the existing market conditions, the paid up value of the property and other factors, the value of the loan against property can be anywhere between 40-60 % of the property value. Cash in on your smart investments of the past and build a safe future. Take a property loan today and use it for any kind of requirement.