Loan Against Property is a secured loan product that can be useful for both salaried individuals as well as businesses. The loan gets sanctioned once you mortgage your residential or commercial property. The bank approves the credit amount, which is equivalent to the current value of the property. As a loan buyer, you can mortgage a property that is self-occupied, rented or any piece of land owned by you. However, you need to make sure that the title of the property is clear.
