- Whether it can be mortgaged or not if you want to take the loan with your immoveable property as collateral, in that case, bank’s representative will verify your property and prepare a report.
- Additionally, the bank’s agent will assess your home. Predicated on this report, the mortgage quantity will be authorized.
Part of a Guarantor
Being a guarantor for a financial loan is just a huge obligation as the guarantor could have an appropriate responsibility to cover in the event the debtor defaults on their re re payment. In the event that loan quantity exceeds INR 4 lacs, then a bank may request a warranty by a 3rd party. The guarantor holds the liability to repay the complete amount to banks if the borrower is not able to repay the loan amount irrespective of the circumstances, in that case. (more…)