loan against property - sobell finance limited - nbfc
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03/11/2015 Loan Against Property Sobell Finance Limited
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The Loan against Property is granted to the Applicants to meet their financial needs & business funds requirements, against themortgage of properties by SFL.
This helps the individual as well as business houses to raise funds against their residential/ commercial properties so that they do notface any problem in meeting their personal commitments as well as working capital funds requirements/ funds for expansion of theirbusiness.
Securities for securing SFL loan
1. The Term Loans extended by SFL are secured by way of mortgage of Primary Security (Financed Assets) and/or CollateralSecurity (Land/ Building other than the Financed Assets). The quantum of Collateral Security depends on the risk perception/merit of the case.
2. Demand Promissory note.
3. Personal guarantees of Promoters/Directors/Partners/Sole Proprietor/owner of collateral Securities.
4. Post Dated Cheques.
Verification & Valuation of SecuritiesThe SFL has a panel of Advocates/ Valuers for carrying out verification & valuation of securities. Further it is also to be cross checkedby the officers of SFL.
Following details will be required in respect of securities to be mortgaged with SFL:
1. Sale deed/Conveyance deed of the proposed security.
2. Valuation report from an approved valuer (to be arranged by SFL).
3. Search report from an Advocate. (to be arranged by SFL).
4. Approved building plan in case of constructed property.
5. Site/ Location Plan of the Land/ Building, duly certified by the Revenue Department/ Map approving authorities.
6. Owner ship details of the Property & relationship of the owner with the Applicant Company/Firm/Partners/ Sole Proprietor.
Loan Against Property (LAP)
Maximum AssistanceMinimum promoter's contribution
Maximum debt equity ratioRate of interest
Rs. 100 Crores25%3:115 to 20% p.a., depending upon Risk Perception & Merit of thecase Interest will be charged, on monthly rest basis, on thereducing balance/ outstanding amount on the last date ofeach month
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