There are times when you want funds but are stuck because your earnings & savings are invested into one or more assets - one of the favourite assets being Properties. What do you do in such a situation?

At Metcon Finance, we deal with various customers facing this dilemma and one thing is common: your property means a lot to you. Hence, instead of helping you sell your property, we suggest a fantastic solution for your fund requirement - a Loan against Property (LAP) or a Mortgage.

It is a Secured Loan offered against the security or collateral of one or more Residential / Commercial properties# owned by an individual, a company or firm. The funding is usually provided by Banks and NBFCs

Thanks Metcon's extensive network of various top-notch banks and financial institutions, we are in a position to evaluate and provide personalized & customized solutions for you, giving you the best offers in terms of Interest rates, Processing Time, Property Valuations (80-100% of the market value) and Funding.

You can usually get anywhere between 60-70%* of your Residential Property's market value and 45-60% of your Commercial Property's market value. The reason for not funding upto 100% is that the lending institution takes into account, a certain amount of risk as decided by it. In case your financials or documents seem insufficient for the loan amount required by you, you can add another property, if any, to the collateral.

While LAP rates vary case-to-case, our best Loan against Property offer rate is 11%. We at Metcon Finance strive to get the best interest rate especially for you.

When you have an existing LAP/Mortgage but want to take benefit of lower interest rates and/or better terms & conditions suggested by us, we will help you shift to one of our offered solutions chosen by you. This will help you in reducing your EMI if you choose lower interest rates and/or make payment options easier so that it becomes much more convenient for you in the short as well as long-term.
A common mistake many make is when they see that the stamp duty, nominal charges and processing fee or to be paid for shifting to another Bank or NBFC, added to the proposed interest rate for one year is almost equal to the existing interest rate. However, the bigger picture should not be missed. In the long-run, you save a lot of income each month which you can save for your child's education, a long-awaited vacation, investments, working capital, retirement planning and much more.

A Top Up applies to an existing LAP / Mortgage which you have taken from a Bank / NBFC and want to increase the Loan Amount, in case your financials have improved and/or property value has increased. For example, if you take a loan of Rs. 50,00,000 against a property worth Rs. 80,00,000 and in a year or more, the property value increases to say, Rs. 1,00,00,000, Metcon Finance can help you in Topping Up (increasing) the loan amount to say, Rs. 65,00,000 if you fit the eligibility criteria. This way, you can capitalize on the property appreciation and also meet any fund requirements that you may have.

* Terms & Conditions Apply