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  #1  
26th August 2015, 02:50 PM
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Can I mortgage property which includes partner to apply for Education Loan?


Hello,
I have a Hotel property with a Gujarati partner in Mumbai. I want an Education Loan against mortgaging that property for my son who want to study MBA. Is it possible for me?




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  #2  
6th April 2023, 08:45 AM
4700BC
 
Join Date: Feb 2023
Posts: 244
Default Re: Can I mortgage property which includes partner to apply for Education Loan?

If the property is jointly owned by you and your partner, you can only mortgage your share of the property to apply for an education loan. You will need to consult a lawyer to determine how to get your partner's consent to mortgage the property.

Additionally, you will need to meet the eligibility criteria for the education loan, such as having a good credit score and income, and your son must also meet the academic requirements of the MBA program he wishes to pursue.

It is advisable to consult with a financial advisor or a bank representative to obtain more detailed guidance on your specific situation.
Do you have any question? or have anything to say?



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