Question
What is a loan against property and how much can I borrow?
Answer
Bottom line: A loan against property is a secured loan, and lenders typically fund 50 to 70% of the property's value.
1. How it works
You pledge a residential or commercial property; the rate is lower than a personal loan because it is secured.
2. Loan-to-value
Usually 50 to 70% of market value, varying by lender and property type.
3. Uses
Business or personal needs, over a long tenure.
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This answer is general information based on the law as it stood when written and is not professional advice on your specific situation. Verify the current position and consult a qualified professional before acting. See our disclaimer.