What are the document requirements for a 'loan against property loan?

Posted by Sarita Yadav on December 27th, 2021

While making your application for a loan against property (LAP), there are certain documents that you will need to furnish. As is the case with any type of loan, the lender needs those documents to assess and verify your application.

These loan documents would indicate your identity, financial well-being, the purpose of the loan, the details and status of the property raised in collateral, and other details. Since loan against property involves collateral, there will be more paperwork required than in unsecured loans. 

You would have to provide all the essential documents necessary for a LAP. These include your registration, mortgage deed, etc. However, the more records you furnish, the stronger your application becomes!

In the case of joint borrowers, all the individual applicants have to present their documents and run their proposals with each other to make sure there are no discrepancies. 

At Shubham, we provide our applicants with a checklist of documents. The mortgage loan checklist may differ for each individual. 

You will need to have the following documents handy to apply for Shubham\'s loan against property:

• Application form with a recent photograph
• Proof of Identity (Passport Copy /Voter ID card /Driving License /PAN Card)
• Address Proof (Ration card /Telephone Bill /Electricity Bill /Rental agreement /Passport copy /Bank Passbook or Statement /Driving License)
• Age proof (PAN Card /Passport /any other certificate from a statutory authority)
• Bank Statements (Bank statement /Bank Passbook for the last 6 months) OR Last 6 months salary slips
• Form 16
• Income Tax Returns for the last 3 years
• Processing fee cheque
• Documentation about the property offered as collateral