Mirror Now
@mirrornow·2.2M subscribers·145K videos
Can we take a loan to purchase a redevelopment plot?- Property Hotline
Posted
July 22, 2016
Views
275
Likes
4
Engagement
1.45%
July 22, 2016
275
4
1.45%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
3:37Now PlayingBe Un Confused
Expert: Harsh Roongta, Chartered Accountant, and a SEBI registered Investment Advisor.
Question: My friend's home is going into redevelopment within 6 months. He wants to move to a different location and plans to sell his flat. I want to buy his flat for the same amount the builder is giving with the same timelines. Can I get a home loan for such a transaction?
Answer: It is usually difficult to get a loan from the lenders if the property is going in for a redevelopment. The lenders are reluctant in lending because redevelopment is a long process with frequent regulatory changes, high probability of litigation and delay in construction. This all may lead to the borrower defaulting on the loan repayment.
Hence, in such situation the best option may be to approach the lender funding the developer of the redevelopment project for the balance transfer from your existing lender. You can also use the corpus amount received if any, from the redeveloper to pay-off the loan amount.
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
