Home loan on buying father's home

Break Water (Querist) 29 June 2012 This query is : Resolved
Hi,

My father is planning to sell his house and I am interested to buy that one.

Is it possible to get home loan on buying Father's home.

Appreciate your valuable advise.

Thanks.

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ajay sethi (Expert) 29 June 2012
yes you cna get loan for buying father property provided you are eligible for loan

Sankaranarayanan (Expert) 29 June 2012
No bare on get loan but the title and your repaying. Eligibility are main

Kiran Kumar (Expert) 29 June 2012
What matters is your own eligibility to pay off the loan....anyone may be the owner of the property that is not an issue with the bank.

SAINATH DEVALLA (Expert) 29 June 2012
Whether you are buying your father's property by obtaining a loan or not is a diferent question,as you will get ir as per eligibility.
1.Is it your father's self acquired or ancestral
2.Obtain NOC and relinquishment of rights from other sibblings.

Chanchal Nag Chowdhury (Expert) 01 July 2012
If U R a Bengalee, go ahead. If the house is self-acquired by your father,go ahead. If it is ancestral,follow Mr. Devalla's advice.

Break Water (Querist) 03 July 2012
Thanks for your advise.

fyi, its my father's own property not ancestral.

One more question, is there any way to to avoid registration fees while taking home loan of that house as my father already paid the same earlier.

Thanks.

Break Water (Querist) 11 July 2012
Hi,

As I have raised related question again that I am planning to buy my father’s house by taking home loan from bank.

I am very much eligible and every document is proper of my father’s house.

When I have approached SBI and LIC Housing regarding the same then they told me that we are not providing Home Loan in blood relation. We have a very good records with SBI branch and my CIBIL report is very much clear.

Could you please advice what steps or where I can approach now.

Thanks.

Guest (Expert) 11 July 2012
I have already replied on your other related question. You may like to see the answer.

Break Water (Querist) 12 July 2012
Many thanks Dhingra sir.

Guest (Expert) 12 July 2012
You are welcome.

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