Loans
Mortgage Loan
Borrowing secured against property already owned, at a lower cost and a longer tenure than unsecured lending because the security is substantial. Largest ticket and longest process in the category: title verification and legal opinion take real time and are where most files stall.
What you get
- Residential and commercial property accepted as security
- Larger tickets and longer tenures than unsecured lending
- End use generally unrestricted, subject to lender policy
- Legal title verification and technical valuation arranged by the lender
- Balance transfer of an existing loan against property, with top up
- Application tracked through valuation, legal opinion, sanction and disbursal
FAQ
About mortgage loan
Why do these applications take so much longer?
Because the property is examined as carefully as the borrower. A legal opinion on the title chain and a technical valuation both have to clear, and a defect in the title documents will hold or sink a file regardless of how strong the applicant income is. Getting the property papers in order early is the single biggest thing a counter can do to shorten the process.