The amount of loan will depend on the Loan-to-Value Ratio. This indicates how much loan can be obtained based on the value of the house.
There are certain myths surrounding LAPs that we need to steer clear of. Here are some of them.
While lenders tend to give a gold loan up to 75% of the total metal value, it can inch as high as 80-85% in case of falling prices.
Banks generally approve a loan against property within 7 to 10 working days.