English mortgage by private money lender in karnataka

navin (Querist) 26 August 2013 This query is : Resolved
can a private moneylender mortgage the property by way of english mortgage in karnataka?or these mortgages can b availed only by banks?

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Raj Kumar Makkad (Expert) 26 August 2013
This is an academic query requires not to be attended by experts.

Post the facts of your case.

navin (Querist) 26 August 2013
basically my brother is a moneylender.i just read in the hindu paper regarding english mortgage.uptil this day he is doing with simple mortgage,i suggested this mortgage for which he told only banks can follow this procedure. just wanna confirm if english mortgage is only for the banks & not for pvt moneylenders.

navin (Querist) 26 August 2013
kindly throw some light on this sir>>>>>>>>>> thanxxxxxxxxx

Guest (Expert) 27 August 2013
This is a business and commercial enquiry, not a personal legal problem. If he is earning from money lending, he can also afford to hire services of a local expert on the issue for consultancy.

ajay sethi (Expert) 27 August 2013
your brother is a money lender . he can afford legal fees

navin (Querist) 27 August 2013
dint get a clear picture as advocate was talking of caste,hindu,buddhists etc..........

navin (Querist) 27 August 2013
since this is a big forum of good lawyers i hv posted this query,srry if i wasted ur time..........
but generally th ereplies here we get is crystal clear.............

R.K Nanda (Expert) 27 August 2013
consult lawyer personally.

Rajendra K Goyal (Expert) 27 August 2013
Academic query, consult local lawyer.

Sudhir Kumar, Advocate (Expert) 27 August 2013
let your brother afford fee of advocate in his colony and seek his paid advise.

Raj Kumar Makkad (Expert) 27 August 2013
Such commercial queries are not resolved here. Only needy persons incapable to incur huge money over the professional fee of the lawyers, are duly attended as a charity.

J K Agrawal (Expert) 27 August 2013
I agree with all the friends. You should seek a proper advise. however it is yes no.

RAJU O.F., (Expert) 30 August 2013
Private moneylender cannot enforce such mortgage legally.

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