Loan Against Property is exactly what its name suggests – it is a loan where the bank or NBFC lends you money and holds your property as security until the loan is repaid. Once you repay the loan in full, you get back your property. In case you fail to repay the loan, the lender can attach the property and dispose of it to recover the unpaid dues.
The loan can be used to meet long-term funding needs, expansion plans, buy new property and equipment or to refinance existing loans. CreditEnable’s lender partners LAP options are flexible, easy and quick to secure.