Home loan
Mangesh
(Querist) 08 September 2009
This query is : Resolved
Dear Sir,
I had applied for a home loan through an agent. I provided him with all the required documents on 4th of July. Agent told me that as my age is less the tenure to repay the loan can be increased. As I received a confirmation about the loan amount on 15th of July form my agent I booked a flat on 26th of July.
But actually when I went to for an interview with the bank manager he told me that I was not at all eligible for the loan amount informed to me by my agent. The agent now is changing his words saying that he never said I was eligible for the loan amount X but I said that u can book a flat of X amount adding on my contribution.
Now the situation is that I am not getting the required loan amount as well as the builder booking recite says that the booking amount is not refundable.
I this scenario can I sue the agent for fraud and if yes under which law and also dose the law says that if the flat is cancelled the booking amount is not refundable, can I get my money back from the builder?
Seeking for your expert guidance.
Best regards
Yash
riven
A V Vishal
(Expert) 08 September 2009
Yash
In your query you have stated that you have received confirmation of loan, but I presume it was only a oral communication and not written, further, on the issue of the refund of booking amount, since it is booking amount, you can claim refund of the same, subject to certain deduction from the amount you paid. However, the terms of the agreement between you and the builder are unclear, if you have signed any agreement to that effect. Further, on the issue of suing the agent, I feel it will be a futile exercise, since you will be put to strict proof to prove that the bank had initially granted/communicated about the confirmation of the loan amount sought by you.riven
