Loan Against Property – Smart Financing Using Your Property

A Loan Against Property (LAP) allows you to raise substantial funds by mortgaging your residential or commercial property while retaining ownership. It offers lower interest rates, higher loan amounts, and longer repayment tenure compared to unsecured loans.

At Speedy Loan Finance Services, we help you secure the best LAP offers with a smooth, transparent process.

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1. Credit Score (CIBIL Score)

What it is:
Your CIBIL score reflects your creditworthiness and repayment behavior.

Why it matters:
A good score improves eligibility and reduces interest rates.

Preferred Score:

• 750+ → Best rates & faster approval
• 700–749 → Good approval chances
• 600–699 → Approval possible with higher rates

Even with an average score, LAP may still be approved due to property backing.

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2. Property Value & Type

Lenders assess:

• Market value of the property
• Residential or commercial usage
• Location and legal status

Loan Amount:
Typically 50%–70% of the property’s market value.

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3. Income & Repayment Capacity

Salaried Individuals:

• Stable monthly income
• Long-term employment continuity

Self-Employed / Business Owners:

• Regular business income
• Last 2–3 years’ ITR
• Strong cash flow

Lenders ensure EMI affordability over long tenure.

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4. Employment & Business Stability

Salaried Applicants:

• Minimum 1–2 years of work experience
• At least 6–12 months in current job

Self-Employed Applicants:

• Business vintage of 2–3 years

Stability reduces lender risk and improves loan terms.

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5. Existing Loans & EMI Obligations

Total EMIs (including LAP EMI) should generally not exceed 50–60% of monthly income.

Lower liabilities increase approval chances and loan amount.

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6. Property Legal & Technical Verification

Banks conduct:

• Legal title check
• Encumbrance verification
• Property valuation by approved valuer

Clear property documents are mandatory for disbursal.

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7. Documentation Required

KYC Documents:

• Aadhaar Card
• PAN Card

Income Documents:

• Salary slips / ITR
• Bank statements (6–12 months)

Property Documents:

• Sale deed
• Property tax receipts
• Approved building plan

Complete documentation speeds up approval.

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Summary Checklist for LAP Applicants

Before applying, ensure:

• Property is legally clear
• CIBIL score is 700+
• Stable income source
• Existing EMIs are manageable

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Why Choose Speedy Loan Finance Services?

• Access to leading banks & NBFCs
• Best interest rate comparison
• Expert property & legal guidance
• End-to-end loan support

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Apply for Loan Against Property Today

Raise funds for business expansion, education, medical needs, or debt consolidation with Speedy Loan Finance Services.

📧 Email: loanspeedy@gmail.com
📞 Contact: 7350005590

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Tags

• Loan Against Property
• Mortgage Loan
• Property Finance
• Speedy Loan Finance Services

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