A Mortgage Loan, also referred to as a Loan Against Property (LAP), is a secured loan where you pledge your residential, commercial, or industrial property as collateral to access funds. It is a reliable financial solution for those who need substantial amounts for personal or business purposes, such as education, medical expenses, business expansion, or debt consolidation.

This type of loan allows you to retain ownership and usage of the property while availing funds against it. It generally comes with lower interest rates and longer repayment tenure compared to unsecured loans.

The loan amount is typically determined based on a percentage of the market value of the pledged property, ranging from 40% to 70%, depending on factors like property type, location, and the lender’s policies.