• Phone:

    +91 7860010011

  • Email:

    contact@relookcapital.com

  • Office Address: B-2 , 2/91, Vibhuti Khand.
    Gomti Nagar.Lucknow-226010. UP

  • Registered Address : 204, Prem Vihar . Sector 62. Noida. Pin -201309. UP

Loan Against Property

A Loan Against Property (LAP) is a type of secured loan where you pledge your residential or commercial property as collateral. Since the loan is backed by the value of your property, it poses a lower risk to lenders, which often translates into lower interest rates compared to unsecured loans. The loan amount you can avail is typically higher and is based on the market value of your pledged property — making it a great option for those needing substantial funds.

One of the key benefits of LAP is its flexible tenure, usually ranging from 5 to 20 years, allowing for comfortable repayment with lower EMIs. Additionally, there are no restrictions on usage — you can utilize the funds for any purpose, whether it's business expansion, education, medical expenses, or debt consolidation.

0.25% to 2% of Loan Amount

Loan Processing Fees

Nill

Loan Cancellation

As per actual

Legal Fees

Nill to 4% (According to bank /NBFC)

Foreclosure

Features and Benefits of our Loan Against Property

  1. Secured Loan:
    1. The loan is secured against the value of your property. The property acts as collateral, reducing the risk for the lender. This generally leads to lower interest rates compared to unsecured loans.
  2. Loan Amount:
    1. The loan amount is determined based on the value of the property you pledge. Generally, you can get a higher loan amount compared to personal loans or other unsecured loans.
  3. Flexible Tenure:
    1. The tenure (repayment period) for a Loan Against Property is usually longer compared to other types of loans, often ranging from 5 to 20 years. This allows for lower monthly installments.
  4. Multipurpose :
    1. The loan amount can be used for a wide range of purposes, giving you the flexibility to address various financial needs without any restrictions.
  5. Improves Credit Scores:
    1. Successfully repaying a Loan Against Property can positively impact your credit score, as it demonstrates responsible borrowing behavior.

Eligibility Criteria for Loan against Property

At Relook Leasing & Finance Pvt. Ltd., we offer Loan Against Property (LAP) solutions tailored to your financial goals. To qualify, please review the criteria below:

Nationality :

You must be an Indian citizen, and must provide valid documentation to establish your nationality and identity.

Occupation & Income :

You should have a stable occupation and a consistent source of income. These details help us assess your financial stability and creditworthiness before approving your loan.

Credit History :

A good credit score (typically 700 or above) strengthens your chances of loan approval. Your repayment history of past loans and credit cards is a key factor in determining eligibility.

Banking Relationship :

An existing and healthy relationship with Relook can lead to quicker processing, better interest rates, and reduced processing fees.

Market Value of Property :

The market value of your property determines the loan amount offered. The property must be of higher value than the requested loan amount and acceptable as security.

Clear Property Title:

You must be the legal owner of the property. For jointly owned properties, all owners must provide title documents. The property should be free of existing mortgages or disputes.

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Documents Required

  • Proof of Identity / Residence
  • Proof of Income
  • Property-related Documents
  • Proof of Business (for Self-Employed)
  • Account Statement for the Last 6 Months
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Frequently Asked Questions

You can use a LAP for various needs such as business expansion, education expenses, medical emergencies, weddings, or debt consolidation. There are generally no restrictions on the end-use of the funds.

The loan amount depends on the market value of your property, your income, credit history, and other eligibility criteria. Generally, lenders offer up to 60-70% of the property’s market value.

Interest rates vary by lender and depend on factors such as your credit profile, loan amount, and tenure. LAP generally has lower interest rates compared to unsecured loans.

You can apply through our website or visit our nearest branch. Fill out the application form, submit the required documents, and our representatives will guide you through the process.

Yes, you retain ownership and usage rights of the property. However, the lender holds a lien until the loan is repaid in full.

A LAP OD allows you to withdraw funds up to a sanctioned limit as per your needs. You pay interest only on the utilized amount, making it a flexible option.

The key benefit is interest savings, as you are charged only on the amount utilized. It also offers flexibility in fund usage and repayment.

Yes, you can transfer your existing LAP from another lender to us at better terms, subject to eligibility and documentation.

Yes, if you have a good repayment record and property value permits, you may be eligible for a top-up loan on your existing LAP.

Yes. You can prepay or foreclose your LAP. Some lenders may charge a small fee, especially for fixed-rate loans. Check the terms before applying.

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