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Loan Against Property FAQs

Navigate loans against property with our comprehensive FAQs. Access clear answers to secure the most suitable loan terms.

Can I use LAP for real estate investments?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
Yes, you can use a loan against property (LAP) to finance your real estate purchase, whether as an end-user, investor, or developer.
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How does prepayment work for LAP?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
Most loan providers allow partial or full prepayment of your outstanding loan against property (LAP) amount before completion of the repayment tenure.
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What happens if I default on LAP payments?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
Defaulting on your loan against property (LAP) equated monthly instalments (EMIs) can lead to serious consequences.
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What is the importance of property insurance in LAP?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
Opting for both property and life insurance is crucial when taking a loan against property (LAP).
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Are there any tax implications for LAP?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
There are no direct tax benefits or exemptions available on loans against property (LAP).
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What is the typical loan-to-value ratio for LAP?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
The typical loan-to-value (LTV) ratio for a loan against property (LAP) ranges from 40-75% of your property's market value.
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Can I get a LAP with a low credit score?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
Yes, in some cases, getting a loan against property (LAP) is possible even if you have a low CIBIL score.
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