Loan Against Property

Loans Against Property in India

A Loan Against Property (LAP) is a type of secured loan where a borrower pledges their property, such as residential or commercial real estate, as collateral in exchange for funds. This loan allows individuals or businesses to access a significant amount of money based on the market value of the property, often at lower interest rates compared to unsecured loans. LAPs are commonly used for personal needs, business expansion, or debt consolidation. The repayment terms can vary, but failure to repay the loan may result in the lender taking possession of the property.

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