Do you have a let out
property and need some money, then loan against the rental is a great choice
for you. A loan against rental allows its owner to borrow money from financing
institutions against the future rental income. With this facility, the property
owner, whether it be a commercial or residential property, can avail a line of
credit.
The owner can benefit
from this facility if it is needed. In the case of joint ownership on the
property, the owners will have to become the joint applicants for the loan. The
facility is applicable to the properties which have already been let-out
provided the rental agreement period should at least covers the repayment of
the loan against rentals. In the case of commercial property, it should be
leased or let-out to a reputed lessee.
In general, the
processing fee is up to 1% of the loan amount and the loan amount varies with
financial institutions and profile of the borrower.
Heather Ferns, apartments in Trivandrum is a
flagship residential project of Heather Homes, the top builders in Trivandrum,
Kerala. The project, flats in Trivandrum, equips most modern amenities and
facilities at its best.
To Know More Heather Homes
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