Avoid over-leveraging with loan against property: All you need to know

Loans against property (LAP) are popular among businessmen who prefer them over personal loans to meet their working capital needs as the interest rates are lower    But if the business falters, or the borrower is unable to rent out the property and earn rental income from it, he could face problems in repaying the loan   In case of a default, the lender could repossess the property. Therein lies the main risk of LAP   Only take this loan for productive purposes      Have backups in place - assets like gold, ancestral prope.....

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