Loan Against Property
Loan against property is the loan you get from the bank against the mortgage of your property. This type of loan comes under the category of secured loan. The security in this case is the property of the borrower. Here, the property can include your home, your commercial property, or land.
The documentary requirements for a LAP (Loan Against Property) application are essential to ensure that the loan is taken out per the lender’s regulations and that the lender and borrower are both protected. Here are the required documents when you apply for a LAP: