8 Factors That Can Influence Your Loan Again Property!
                     8 Factors that Can 
Influence Your Loan 
against Property!
A loan against property is neither a personal loan nor a 
business loan. Banks, NBFCs, and many other financial 
institutions offer it, keeping your own house or any other 
commercial property as a mortgage. This mortgage loan 
against property offers you 60% of the total market value of 
your asset.
Every individual has to arrange money for their personal 
and professional needs. When the situation turns out 
terrible and you find no other option, a loan against 
property would be the better solution. However, it is not 
that easy to get a loan against property. Certain factors 
are affecting your eligibility criteria in availing of the loan. 
You need to mind all of them and ensure your application 
does not get rejected. Now, have a look at various factors 
influencing your loan against property.
1. Applicant age: This acts as one of the most 
important factors in interpreting your repayment 
capacity. If you are a senior citizen or retired, it is 
better to bring a co-applicant for applying on board so 
that your application might not get rejected.
2. Employment status: The lender would indeed 
check your employment status as you need to have a 
source of income so that they can trust you on lending 
a loan. If you don't have a regular source of income, 
there are high chances of your application getting 
rejected.
3. Property documents: The primary thing a Bank 
does before lending a lap (loan against property) is to 
check all your documents and verify any legal issues 
related to your asset. The papers should have all 
necessary permissions from governance bodies.
4. Property Age and Insurance: If yours is an ancient 
property, there could be structural collapse. The lenders will 
ask for property age details and investigate in detail. You 
can increase your probability of being eligible by having 
insurance for your asset. This is a crucial factor in providing 
a loan against property in Delhi.
5.  Credit history: Your application will be approved only 
when you have a healthy and higher credit score. They will 
consider all your past repayment scores and reject if they 
find any defaults or delays in payments. 
6. Loan Tenure: It is good to apply for a longer tenure in 
the case of a mortgage loan against the property to 
increase your chances of successful repayments.
7. Good profile: The lender sometimes may check your 
previous history of rejected applications and investigate 
more profound into the reasons for the same.
8. Income Tax returns (ITR): ITR gives a clear picture of 
your income status. You need to have a consistent ITR filing 
for 3-4 years, increasing your chances of eligibility.
Conclusion
Most people opt for a loan against property in tough 
situations. So, you must maintain a very high profile 
and mind every factor. Even a small issue can affect 
your application as they check deeply while lending 
a loan against property in Delhi. Have a clear 
objective view of your profile and proceed further. 
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