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Lome Loan : Some Questions

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Lome Loan : Some Questions

Last updated: March 29 2019
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  • Lome Loan : Some Questions

    We are joint family but now we are thinking to construct a house separately but the plot is in the name of my grandfather and as we want to take home loan in that so is it necessary to have the plot on my husband's name as my grandfather is not willing to change the registartion name?
    Last edited March 27 2019, 08:56 AM.
  • #2

    #2

    Re : Lome Loan : Some Questions

    Certain financial institutions (Banks and NBFC's) may offer the loan to you. However, there would be lenders who would not like to offer a loan amount. Some of the factors that you must remember are -
    • All loan documents must be signed by your husband and your grandfather.
    • Legal heirs of that land, if any, must provide NOCs or No Objection Certificates.
    • No tax benefits can be availed by you/your husband, if you do not own the property.
    • Application for the construction loan has to be made jointly by your husband and grandfather. Your husband's income proof can be used as a document for the loan.
    Contact a few Bank's for more clarification .
    Please read IREF rules | FAQ's

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    • #3

      #3

      Re : Lome Loan : Some Questions

      Thank you so much for your information.

      But the thing is my husband is in government job and he wants to take homeloan so that he could use tax deductions on home loan.

      Is there no other way so that he can avail tax benefits and also the loan approval for him.?




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