Loan Against Property

LAP, or Loan Against Property, is a type of secured personal loan that you can obtain through various banking and non-banking financial corporations. This type of loan allows you to borrow funds using the value of your existing property (residential and commercial) as security. LAP is also called a Mortgage Loan or Collateral Loan against property.

What are the types of loan against property?

Loan Against Residential Property:This is the most common mortgage loan. You can avail funds against residential properties you own. They may be self-occupied, rented out, or vacant.
Loan Against Commercial Property:This option lets individuals mortgage their commercial property. It can be an office space or an industrial unit.