A loan against property (LAP) is a secured loan availed by borrowers by keeping their property as a mortgage with the bank. The mortgaged property can be either a house, land, or other commercial premises. Normally, the loan will be sanctioned up to 50% to 60% of the value of the property. Until the loan is repaid by the borrower, the property remains as collateral with the bank. Watch this video to know everything about the loan against property (LAP).
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