SurrogateLoanPlansASKCRED.COM

HowSurrogateLoan BestWork For You?

FOLLOWING ARETHE THREE MOST

IMPORTANTFORMS OF

SURROGATELOANS THAT ONECAN EXPLORE TO

RAISE FUNDS:

Loan against rent receivable (LARR)

As the name suggests, this loan is extendedagainst the loan that one is to receive in thefuture. However, this is not extended toreceivable rent on a residential property.This can only be extended to commercialproperty. Extended on both offices andshops, the loan against rent receivables cango up to 50% of the market value of theproperty.

Loan against property interest saver (LAPIS)

This is an interesting loan variant where theborrower can save just by having a currentaccount with the bank where from where theloan against property interest saving isbeing taken.This product primarily suits thebusiness class borrowers since having acurrent account is mandatory.

Loan against property (LAP)

The loan against property is one of the mostused product variations to unravel theproperty value. While mostly used by, again,individuals in business, the product canequally be of use to salaried class as well. Aloan up to 60; 65% of the current marketvalue of the property can get extended asthe loan for a term of about 10 years. Theloan can be extended to self-occupiedresidential and commercial properties.

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