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  #1  
22nd October 2015, 02:06 AM
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Can I apply for Education Loan on the same property in which my brother has already taken?


Hi Friends,
I have a family property which is already used for my brother's education loan. Can I have one more loan over that property for my education since the value of the property is far more than the loan taken by my brother? Please advise me.
With Regards-
Amol Kumar




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  #2  
24th October 2015, 10:28 PM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Can I apply for Education Loan on the same property in which my brother has already taken?

Usually a property can be mortgaged to a one organization who is providing the loan since mortgaging it to many organizations and that too for many loans. However, you can definitely opt for education loan for the property which has already been mortgaged for education loan of your brother since the value of property is quite high and the loan is for education purpose. However, you can take education loan only from the same bank from which your brother has taken education loan and it will be at the discretion of the concerned bank regarding the sanction of your education loan. You need to have a discussion with the concerned bank's branch manager.
Do you have any question? or have anything to say?



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