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Loan Against Property

Loan Against Property

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A Loan against property or LAP is a secured loan taken by an individual or entity from a bank or a non-banking financial company (NBFC) against the property mortgaged ~ terms and conditions apply.

Overview

As the name suggests, any loan against any property either personal or commercial falls under Loan against property, where the property would be mortgaged to a financial institution. Unlike the unsecured loan, the loan against property involves a security that is the property.

Mandatory Requirements

  • A valid copy of Passport, Resident visa, and Emirates ID.
  • Copy of the documents of the property to be mortgaged.
  • Income Proof.
  • 3-6 months of bank statement.
personal loan