home loan transfer

1
?
?
?
?
?
Property Simplified
Home
About Us
Our Team
How to transfer your home loan? ?April 7,
2018 ?Real Estate ?home loan balance transfer,
home loan transfer Srishti Chandola
?
Create PDF in your applications with the Pdfcrowd
HTML to PDF API
PDFCROWD
2
Like 1 The borrower can certainly shift the
house loan to any other lender who is willing to
help with better interest rates. At times, an
applicant for the home loan may also expect to
increase the tenure of the loan due to numerous
reasons. A customer may want to transfer the loan
if she or he wants to top-up the present loan
and the present lender isnt willing to proffer
the same. What is the process for transferring
the home loan? For the transfer of the home
loan, the present lender requires being paid
first before releasing the original documents of
the property. The new lenders, however, will not
issue the cheque unless one receives the
original documents for the property. Thus, how
does one do resolve this catch- 22 situation? A
borrower can request her/his existing lender, to
issue the letter to a prospective lender. The
letter should certainly mention the list of the
documents related to property lying with recent
lender, outstanding loan amount and undertake the
bank will hand over property documents to a
prospective lender on the payments of the
outstanding amount. Also, the new lender will
carry out the due diligence check on the customer
and property to assess title of property as well
as the repayment capabilities and the track
record of the borrower. The new lender may
willingly not be to transfer the loan unless and
until you have good repayment history as well as
the credit report is good as well. What are the
charges involved in transferring the home
loan? For shifting the home loan from the lender
to another, you may actually have to pay for the
charges to both the lenders. The present bank
may levy the prepayment charges on loan. The
housing finance and banks organizations are not
really allowed to levy any of the prepayment
charges on the floating rate
Create PDF in your applications with the Pdfcrowd
HTML to PDF API
PDFCROWD
3
home loans. Even in the case of the fixed rate
home loans, the residential finance companies
cant levy the penalty if the borrower prepays
the loan out of his or her own funds other than
the borrowing from any of the financial
institution. Also, the borrower may have to pay
proceeding charges to a new lender. This might
vary from 0.2 to 0.75, from one to another
lender and depends on the profile of the
applicant. At times, the banks may also waive
the transfer charge a nominal amount. The
applicant should remember that processing fee
that is payable to the bank is negotiable and
consequently, they bargain to minimize the amount
or maybe waiver off the transfer processing
fee. Though new lender may not charge anything
for processing of balance transfer application,
you may have to pay registration charges and the
stamp duty for a mortgage. Also, one may have to
pay valuation charges, if the bank takes the
decision to go for the fresh valuation of
property, either for top-up loans or where the
property isnt approved by the lender.
? How to Choose the Correct Architect for Your
Home?
Leave a Reply Your email address will not be
published. Required fields are marked Comment
Create PDF in your applications with the Pdfcrowd
HTML to PDF API
PDFCROWD
4
Name Email Website
Post Comment
Subscribe to our newsletter Want to be notified
when our article is published? Enter your email
address and name below to be the first to know.
Name
Email
Create PDF in your applications with the Pdfcrowd
HTML to PDF API
PDFCROWD
5
Send
Facebook Like Page Favista Real Estate Pvt
Ltd 7 minutes ago _at_How to transfer your home
loan? http//www.favista.com/blog/201
8/04/07/transfer-home-loan/ homeloantransfer
Home Loan Balance Tra Know details about Home
Loan FAVISTA.COM Like Comment Share
Favista Real Esta
Create PDF in your applications with the Pdfcrowd
HTML to PDF API
PDFCROWD
6
Twitter Timeline Tweets by _at_FavistaRealty Favista
Real Estate _at_FavistaRealty Happy_Hanuman_Jayanti
Embed
View on Twitter
Create PDF in your applications with the Pdfcrowd
HTML to PDF API
PDFCROWD
7
Recent Blogs How to transfer your home loan?
April 7, 2018 How to Choose the Correct Architect
for Your Home? April 5, 2018 What Happens if
Co-owner Gives Up the Ownership Rights? April 2,
2018 Ways to File a Complaint in Consumer Court
March 31, 2018 Consider These Points Before
Gifting a Property March 26, 2018
Favista is a Real Estate Advisory Firm based in
Gurgaon, India. Favista believes in making every
property transaction experience simple and
successful. The aim is to bring transparency,
professionalism and simplicity to the complex
world of real estate. Favista takes pride in
keeping the needs and concerns of the customers
in highest regards. Favista Real Estate has been
founded by IIT IIM/INSEAD alumni with
experience in strategy consulting, internet
marketing, venture capital having been part of
companies such as McKinsey, Capital One,
PartyGaming and SSG Capital. Favista is a full
service brokerage helping buyers/investors buy,
sell, rent or lease property in India. Favista
offers best realty advice for Apartments and
Flats for sale in India, land/plots for sale, New
Residential Commercial Projects in India and
also assists selling properties at best rates.
Favista.com is the only Property Site in India
that lists 100 verified properties. Favista
currently operates in Gurgaon, Delhi-NCR, Noida,
Mumbai and Bangalore.Those intending to sell
property in India will also find this website
very useful owing to the extensive reach, high
brand recall and trustworthiness in the real
estate space. In order to make our customers
happy and for us to reach our goals, we follow
the key tenets of transparency and consistently
maintain integrity in everything that we do.
With this professional attitude, we are set to
become your preferred choice for all real estate
services in India. ABOUT
Create PDF in your applications with the Pdfcrowd
HTML to PDF API
PDFCROWD
8
About Us
Our Team Career Contact Us Terms Privacy
Policy Disclaimer Site Map
QUICK LINKS Post Property FREE EMI Calculator
Blogs Compare Projects Download Mobile APP Sale
Property Rent Property
CONTACT FAVISTA Toll Free - 1800 2121 000 (ALL
INDIA) Gurgaon - 91-124-3378700 Noida -
91-120-4117463
?
Unit 235 to 240 2nd Floor, Vipul Trade
Center,Sohna Road Sector 48, Gurgaon, Haryana
122002.
Mumbai - 91-22-40142051
Email Sales - sales_at_favista.com
Email Enquiry - info_at_favista.com
? ? ? ? ?
1 Square meter 10.764 Square feet
Have More Questions? Do not hesitate to contact
us! Read our FAQ's or Leave a feedback for us to
contact you shortly.
2015 Favista Real Estate Pvt. Ltd., All Rights
Reserved.
Create PDF in your applications with the Pdfcrowd
HTML to PDF API
PDFCROWD
9
Create PDF in your applications with the Pdfcrowd
HTML to PDF API
PDFCROWD