About mortgage loan

Querist : Anonymous (Querist) 30 January 2012 This query is : Resolved
hi Experts

I have a property wid me i want to mortgage it but there r certain document which r not clear for me

Can the honorable member of this gr8 portal help me following is d query

1. I have a land in the area 12 acre outside mumbai so what all documents r required to be submitted to bank in order to get it mortgage
2. I also have flats in mumbai region which too i want mortgage which all supporting document i will have to submit to these bank or financial institution
3. also as per law there r different kinds of mortgages which type of mortgage will be most suitable for me
4.wat will b the legal requirement dat for mortgaging property in terms of document n also procedure
regards
thanks in advance

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ajay sethi (Expert) 30 January 2012
original papers of land .property card .

if you have flats in mumbai you are loaded . contact a local lawyer .

equitable mortgage is best .

contact your bank they will guide you for the various documents needed for loan . it will take over a month for loan to get sanctioned so better hurry

Raj Kumar Makkad (Expert) 30 January 2012
It is the requirement of the bank and not your own desire to annex documents. You shall have to follow the requirement of the particular banker from whom you require loan.

As suggested equitable mortgage is best one.

Devajyoti Barman (Expert) 31 January 2012
Every bank has its own credit policy. You can not dictate its terms.
So better comply of what it has asked for.

prabhakar singh (Expert) 01 February 2012
yes!experts are right.

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