Loan during notice period

Querist : Anonymous (Querist) 23 December 2019 This query is : Resolved
Can any employee apply for Mortgage loan on his flat when he is serving notice period.
Is thre any illegal in this ?

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kavksatyanarayana (Expert) 23 December 2019
No. You can apply. If you complete the minimum period, they may consider your request.

Raj Kumar Makkad (Expert) 24 December 2019
There is no illegality better if the matter of giving service particulars, it is better to disclose the fact of notice period of current employment.Banker also assesses the repayment capacity while advancement of the loan.

Sudhir Kumar, Advocate (Expert) 24 December 2019
no facts have been stated.

Sankaranarayanan (Expert) 24 December 2019
yes first you furnish the details what Mr.sudhir pointed

T. Kalaiselvan, Advocate (Expert) 26 December 2019
If the notice period is for resignation then in no way the salary income shall be considered by the financial company to grant you the desired loan, rendering you ineligible for the desired loan if it was applied based on your employment and the salary income
However there is no illegality in .this until your intention to suppress the facts material for grant of loan is revealed.

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