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7 Reasons Why Loan Against Property is a Great Option for You!

Posted By ravikumarnama 691 days ago on Finance - Here are Seven Reasons Why Such Loans Are Beneficial
1. Secured facility
Because the property is mortgaged against the loan, the lenders are assured of recovering their dues in case of default. In comparison, unsecured loans depend on your credit score and may be difficult to avail of. Loan against property (LAP) being a secured facility is easily available.

2. No limitation on end use
You may use the borrowed amount for any legal purpose without any limitation. Lenders have no restrictions on the end use of these funds. Therefore, you may use a mortgage loan to fund higher education, medical emergencies, or to set up a new business.

3. Flexible repayment tenure
Financial institutions offer repayment tenure of up to 25 years. This ensures you are easily able to repay the loan without any financial difficulties. You may opt for a longer tenure to reduce the monthly installment. You must finalize the tenure based on your current and future financial situation.

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