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Finance > Personal FinanaceWhat you need to know about loan against property? Posted by robbinkendy06 in Finance on July 27th [url=http://www.cheapnfljerseysvikings.com/kyle-rudolph/]Kyle Rudolph Hoodie[/url] , 2016 We all need finance at some point of time in life to fulfill our goals in life. At this time we run pillars to posts searching for the right finance with optimum rate of interest. Traditional finance comes at an extremely high rate of interest and stringent repayment options. If you borrow money from friends or relative firstly you will always hesitate to face them as psychologically it adds a burden on your mind for repaying them as it may create a right in your relation. Banks and financial companies have come up with a unique solution of arranging the necessary finances on your own through Loan against Property options. It has become a relatively popular product these days amongst people. These loans help borrow get a relatively large sum of money for any need arising such as child education, starting up a business, or building a house in your native, etc. You can avail loans at competitively low interest rates for longer tenure and lower EMIs. It generally has easy documentation, speedy approvals and flexible repayment options. loan against home is a loan that is given against the mortgage of property. It is provided at a certain percentage of your property’s market value. It may usually stand around 40% and 60% of your property value in the market. Thus, these kinds of loans helps you leverage the economic worth of your home along with continuing to enjoy occupancy of the same, so that you get immediate finance to meet a variety of personal and business needs. Transfer of property Act, 1882, defines LAP as “the transfer of an interest in specific immovable property for the purpose of securing the payment of money advanced or to be advanced by way of loan and existing or future debt or the performance of an engagement which may give rise to a pecuniary liability Banks and financial companies provide LAP at rather attractive and low cost interest rates compared to personal loans. In today’s highly inflating economy time if you were to take a personal loan, the interest rate would be as high as 15 to 22%, whereas taking a LAP means you enjoy the benefits at mere cost of 10 to 13%. These loans are at low rates because your property is guaranteed against the loan amount. Every bank will have a different form of processing fee structure that range around 0.50% of the loan amount or Rs 2, 000 whichever is higher, plus applicable taxes, etc. For better understanding of documentation & fee charges you can always visit relevant site and make sure the mandatory documents are available at the earliest for application. LAP is popular because it has some benefits like you get a higher loan amount, discounted interest rates, longer repayment tenure and flexible ways to repay loans. Most banks accept both residential and commercial properties for mortgages. Key benefits: •Low & Attractive Interest rates •Longer repayment tenure •Lower monthly installments •Good tool for debt consolidation •Funds can be used for business as well as personal needs. To apply for a loan against property banks generally demands proof of residence, proof of identity, latest Bank Statement where you can show a salary income for the past 6 months, salary slip if employed, and relevant copies related to the concerned property the borrower wants to pledge. If the borrower is self employed, generally the certified financial statement for the last 3 years is needed. BERLIN, July 26 (Xinhua) -- A spokesperson for Daimler told Xinhua on Wednesday that there was "nothing more to say", after reports surfaced that BMW had cancelled talks concerning future cooperation between the two German luxury carmakers. Over the weekend, allegations that leading German automotive brands -- including Volkswagen, Audi, Porsche and Daimler-owned Mercedes-Benz -- have colluded illegally since the 1990s were widely publicized by press. According to information about the scandal obtained by the newspaper Spiegel, Daimler had made a voluntary self-declaration of illicit meetings to European Union (EU) antitrust authorities as early as 2014. Another newspaper Sueddeutsche Zeitung reported on Tuesday night that this circumstance has deeply angered BMW which has a long tradition of official cooperation with Daimler and consequently feels betrayed. Speaking to Xinhua, Daimler said it was unable to comment on what it described as "media speculations". In order for Daimler not to endanger its status as a principal witness, and hence potentially evade prosecution, the Stuttgart-based company must maintain strict communicative silence over the allegations of industry collusion in public. "The trust [between the firms] is completely damaged," Sueddeutsche Zeitung cited people close to the matter. Carmakers now found themselves "in the midst of a tsunami". Daimler and BMW employees confirmed to Sueddeutsche Zeitung that cooperation talks had been frozen. While no formal decision has been made by BMW's directors, the firm's management wants to critically reassess joint projects in areas such as corporate strategy and supply chain management. Plans for Daimler and BMW to work together on the establishment of a refueling network for electric vehicles are still on track, although likely to be delayed. Both carmakers have also held talks for months to form an alliance between their car-sharing subsidiaries Car 2 Go (Daimler) and Drive Now (BMW). Industry experts expected the fusion of marketing platforms to be complete within the second half of 2017. BMW and Daimler are competitors in the segment of high-powered luxury vehicles. However, they are both small producers with roughly 2 million cars sold annually each, compared to gia. 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