Income Tax
We will provide income tax return preparation, Revised return, Responding to Department notices and solving other Income Tax related issues.
Loan Against Property
Loan Amount from Rs 5 lakhs to Rs 10 crores Eligibility of upto 70% of property market value Loan tenures of upto 15 years
What is Loan Against Property?
What is Loan Against Property? A Loan against property or LAP is a loan given by the lender to the borrower against the property mortgaged. Unlike the unsecured loan, the loan against property involves a security that is the property, which the borrower can mortgage in case the loan is not repaid by the borrower. Hence, it is a type of mortgage loan. In such loans, the market value of the property is calculated and the loan furnished is a certain percentage of the market value of the loan.
For which purposes Loan against property Can be obtained?
Loan against property (LAP) has the low interest rates which can be used for business or personal finance purposes:
- These loans can be used for expansion of the business and meeting the credits of the business and bonafide needs.
- The loans are easy to avail so they can help in case of an urgent medical financing.
- The loans are also useful to facilitate the renovation or repair/extension purposes in the house or flat.
- The loan can be used if there is a marriage in the house.
- The parent can use this loan for sending the child abroad for higher studies.
- One can use the loan to fund a vacation to an attractive tourist destination.
Loan Against Property
We Serve Everywhere
The Wealth Bridge offers vaious financial services like home loans, Business loans and term loans etc,Our Financial solutions are designed to help our clients maximize their business opportunities.
Business Licenses
Our Professionals Will help you in getting your business licenses and Business licenses necessary for smooth running of businesses
Financial Services
we will Provide Funds for both personal and Business. Our funding system gives a credit line facility, enabling you to expand your business to new heights
GST Returns
We will make your business to GST Compliance. Returns are required to be filed digitally online through a common portal to be provided by GSTN
Loan Against Property
Documents & Packages
The Wealth Bridge offers vaious financial services like home loans, Business loans and term loans etc,Our Financial solutions are designed to help our clients maximize their business opportunities.
01.
What are the Documents required for Term Loan?
- Bank Account Statement for the last 6 months
- Complete loan application form with passport size photographs
- Valid Proof of Applicant's Identity and Address Proof
- Business continuity proof for 5 years
- Financial Documents: Copies of IT returns for the last two years along with the latest Bank statements for 6 months and P & L and balance sheet for last two years audited by a C.A.
- Certificate of Incorporation : GST Registration Certificate / Partnership Deed / MoA & AOA
02.
What includes in this package ?
- Verification of Documents
- Preparation of financial statements
- Dealing with Respective Bank Authorities
- Following until Loan is allotted
Process
What is process for getting Loan Against Property? Get loan against property|Property loans|low interest rates
Application Preparation and Verification of Documents
Our Expert will prepare your application and collect the documents necessary..
Verification of Eligibility Criteria
After Verifying Eligibility Criteria, the application will be submitted to respective Bank or Financial Institution
Follow up
Bank / Financial Institution will check the as per their norms and process the application if they meet the norms
Loan Against Property
FAQ
1. Business needs
2. Mortgage buyout/Balance Transfer of existing loan
3. Consolidation of debt
4. Personal needs
2. Mortgage buyout/Balance Transfer of existing loan
3. Consolidation of debt
4. Personal needs
Bank will consider the following factors to determine eligibility and loan amount:
1. Age
2. Income
3. Valuation of Property (Fair market value)
4. Existing obligations, if any
5. Stability/Continuity of employment/Business
6. Past borrowing track record
1. Age
2. Income
3. Valuation of Property (Fair market value)
4. Existing obligations, if any
5. Stability/Continuity of employment/Business
6. Past borrowing track record
The security for the loan will be the first mortgage of the property to be financed, generally by way of deposit of title deeds and/or such other collateral security.
Customer will have to ensure that the title to the property is clear, marketable and free from encumbrance. To elaborate, there should not be any existing mortgage, loan or litigation which is likely to affect the title to the property adversely.
All the co-owners of the considered property need to come in as co-applicants to the loan.
You will have to ensure that the property is duly and properly insured for fire and other appropriate hazards, as required by BFL, during the tenor of the loan and to produce evidence thereof to the Bank each year and/or whenever called upon to do so.
The EMI consists of the principal amount and the interest on the principal amount. It is calculated by taking into account the loan amount, the time frame for repaying the loan and the interest rate on the borrowed sum. The EMI may be subject to change when interest rate changes or a part-payment of the Loan is made.
Every month, part of the EMI is adjusted towards the interest payable and the balance is adjusted towards repayment of the principal.
Business Loan eligibility depends on the following factors: Credit score of the loan applicant/co-applicant The last two years financials of the borrowing entity Information about the Debt Service Coverage Ratio: This information tells the lender whether the borrower will be able to service the EMI for the current loan.
Yes. Prepayment is possible and there is no prepayment fee if you repay the loan after six months of availing the loan if you pay from your own source of funds without transferring the loan.
The bank will levy certain ECS bounce charges or penalties. Additionally, that will also get reported in your credit report. Depending upon the severity and the regularity of the miss, it may have a serious impact on your future credit possibilities like in obtaining a home loan, car loan, etc. Additionally, banks may also take legal action against the borrower.
EMI (Equated Monthly Installment) is a monthly amount that you have to pay back to the bank or funding institution for the loan you have availed. The EMI is inclusive of both the principal and interest components.
Why Choose Wealth Bridge
About Wealth Bridge
We Help You To Form Your Company In A Simple Way Wealth Bridge Will Making More Possibilities which aims at providing much-needed funds to businesses across the trading and service industry
Popular Links
Useful Links
Head Office
2nd Floor, #23, 8th East Main Road
Gandhinagar, Katpadi, Vellore
(+91) 416 2241199
(+91) 86677 53901
Branches
ARAKKONAM OFFICE
# 10/1, Thiruthani High Road ,
Upstairs to Central Bank ,Jothi Nagar,
Arakkonam , TamilNadu - 631003
Phone:+91 6381184522 , +91 8012747723.
RANIPET OFFICE
No 126, MBT Road, Mahaveer Complex,
First Floor, Muthukadai,
(NearDarling bakery) Ranipet - 632401
Phone : +91 417 2295006 +91 86675 42148