Important
Loan Against Property
Overview
Loan against Property (LAP) from Nido Home Finance Limited (formerly known as Edelweiss Housing Finance Limited) enables real estate owners to put their assets to a productive use by mortgaging them to raise funds up to as high as 70% of the market value of the asset. Funds raised from Loan against Property (LAP) can be used for a variety of purposes like buying a new property, business expansion, working capital for business and education or wedding of children, among others.
Loan against Property (LAP) is an ideal product for both individuals and companies owning a real estate asset that is free from any financial obligation. LAP helps raise funds quickly with an added flexibility of choosing loan tenure up to 15 years for easy repayment.
Nido Home Finance Limited finance the following type of properties:
- Self occupied residential property
- Self occupied commercial property
- Leased residential property
- Leased commercial property
- Lease rental discounting against commercial property
Loan against property(LAP) can be taken for the following purposes:
- Business expansion
- Working capital needs
- Purchase of another asset
- Medical treatments
- Marriage of children
- Higher studies abroad of children
- Funding of vacation
Loan Against Property – Residential
Loan against Property (LAP) lets you mortgage your self-occupied or rented residential property to avail a loan for a variety of purposes such as, buying a new property, business expansion, working capital for business, consolidation of existing loans and education or wedding of children, among others.
- Loan amounts of up to Rs. 25 cr
- Short or long duration loan of up to 15 years
- Highest loan to value (LTV) ratio in the market for residential properties
- Refinance and top-up of existing loans
- Loans for purchase of another asset
Home Loan eligibility is assessed based on factors like customer’s financials, age, vintage, qualification, asset creation, nature of business, continuity of income, financial discipline and savings history etc. Home Loans are assessed after:
- Company type: Self-Employed Professionals, Proprietorship Firms, Partnership Firms, Private Limited Companies and closely held Limited Companies
- Minimum 5 years of track record in the business
- Profit making business for the last 2 years
- Minimum net profit of 2 lakhs p.a.
GRANTED TO INDIVIDUAL LAP BORROWERS
| NON-HOUSING LOANS | Min % | Max % | Wt. Avg % | Mean % |
|---|---|---|---|---|
| Q3 FY 24 | 11.50 | 17.00 | 12.93 | 13.25 |
| Q4 FY 24 | 9.10 | 17.00 | 13.11 | 13.60 |
| Q1 FY 25 | 10.00 | 17.00 | 12.91 | 13.72 |
| Q2 FY 25 | 9.25 | 16.95 | 13.06 | 13.51 |
Loan Against Property – Commercial
Loan against Property (LAP) lets you mortgage your self-occupied or rented commercial property to avail a loan for a variety of purposes such as, buying a new property, business expansion, working capital for business, consolidation of existing loans and education or wedding of children, among others.
- Loan against Property (LAP) amounts up to Rs. 25 cr
- Tenure of up to 15 years
- Highest loan to value ratio (LTV) in the market for commercial properties
- Refinance and top-up of existing loans
- Loans for purchase of another asset
- Company type: Self-Employed Professionals, Proprietorship Firms, Partnership Firms, Private Limited Companies and closely held Limited Companies
- Minimum 5 years of track record in the business
- Profit making business for the last 2 years
- Minimum net profit of 2 lakhs p.a.
GRANTED TO INDIVIDUAL LAP BORROWERS
| NON-HOUSING LOANS | Min % | Max % | Wt. Avg % | Mean % |
|---|---|---|---|---|
| Q3 FY 24 | 11.50 | 17.00 | 12.93 | 13.25 |
| Q4 FY 24 | 9.10 | 17.00 | 13.11 | 13.60 |
| Q1 FY 25 | 10.00 | 17.00 | 12.91 | 13.72 |
| Q2 FY 25 | 9.25 | 16.95 | 13.06 | 13.51 |
Lease Rental Discounting (LRD)
Lease Rental Discounting helps to raise funds against the future expected rentals of self-owned commercial property. To avail this loan the property should be occupied by the Lessee and the Leave & License agreement should be registered. Just like Loan against Property (LAP), LRD can be provided for a variety of purposes such as, buying a new property, business expansion, working capital for business, consolidation of existing loans and education or wedding of children, among others.
- Loan amounts up to Rs. 25 cr
- Tenure of up to 9 years
- Loans for purchase of another asset
- Company Type: Self-Employed Professionals, Proprietorship Firms, Partnership Firms, Private Limited Companies and closely held Limited Companies
- Registered Lease Agreement
- Reputed Lessee like Corporates, Banks, Financial Institutions and MNCs
GRANTED TO INDIVIDUAL LAP BORROWERS
| NON-HOUSING LOANS | Min % | Max % | Wt. Avg % | Mean % |
|---|---|---|---|---|
| Q3 FY 24 | 11.50 | 17.00 | 12.93 | 13.25 |
| Q4 FY 24 | 9.10 | 17.00 | 13.11 | 13.60 |
| Q1 FY 25 | 10.00 | 17.00 | 12.91 | 13.72 |
| Q2 FY 25 | 9.25 | 16.95 | 13.06 | 13.51 |
List of Co-lending Partners
1) Sate Bank Of India
2) UCO Bank
2) Standard Chartered Bank
Annual Percentage Rate
The Annual Percentage Rate for Loan Against Property is 12.53%
