Re: Home from nationalized bank
Atanu
(Querist) 05 November 2009
This query is : Resolved
Dear Sir,
I have purchased a property and made the agreement with the builder. But when i applied for home loan from SBI and submitted all the necessary document i came to know that builder dont have the development agreement registered. He has purchased the land in 2004 and has the power of attorney for the same but SBI is not ready to accept the same. As per SBI mortgage can't done based on power of attorney.
Is there any ways and means throgh which i can get home from nationalised bank. Please help me with your kind inputs.
Regards,
Atanu
9967044052
A V Vishal
(Expert) 05 November 2009
Grant of loan is the discretion of the banks. It is generally difficult to guage the requirement of each bank in view of the credit policy of the concerned banker. Hence it is advisable to approach a financial consultant dealing in loans to solve your problem.
Raj Kumar Makkad
(Expert) 05 November 2009
The title deed of the property is an essential document for the bank before granting any loan to the borrower and in the given circumstances the chain of the ownership is incomplete so bank is within its rights to refuse you loan and same shall be the position of all other nationalized banks.
