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Priya (Manager)     25 February 2011

Cancellation of Loan Application

Hello,

I applied for a home loan from LIC HFL in January 2011. The loan has still not been approved. I recently I got a better deal from another banking unit, so have sent in an application to cancel my loan request from LIC HFL.

I would like to know by law are the documents that I have submitted should be returned back to me or LIC HFL keeps those with itself.

And if they do keep the documents, is there any harm from it and what can I do from my end to avoid any misuse.



Learning

 2 Replies

bhagwat patil (Property due diligence 9422773303)     25 February 2011

They have to return it. secondly they cannot misuse it.just move the applicaion for asking the papers and keep oc with you.

adv. rajeev ( rajoo ) (practicing advocate)     25 February 2011

Give a letter to the bank to return the documents submitted to them instructing your unwillingness to take a loan.


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