Loan against property is a type of loan facility availed by individuals and businesses against the mortgage of a commercial or residential property. It is a secured loan, where the borrower pledges the property as collateral against the loan amount.

LAP is a great option for people who require a large amount of money but need assets to pledge as collateral; it can also benefit those looking for financial stability and who would want to consolidate their debts into one loan.

A borrower can take as much as 75% of the property’s value. Depending on the lender’s policy, these loans can be paid over an extended long period when compared to other options.