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  #1  
12th August 2017, 12:17 PM
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Can a rental shop be mortgage for education loan? What are the guideline?


Hello sir, I am a business man and I have a shop on rental basis. I want to apply for an education loan in SBI for higher study of my son. Can I mortgage my shop? What are the guideline?




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  #2  
24th August 2017, 11:09 PM
ajayrocks007
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Join Date: Mar 2012
Location: New Delhi
Posts: 20,581
Default Re: Can a rental shop be mortgage for education loan? What are the guideline?

Mortage is for any immovable property in your own name. The rented shop is not your own property, only the business is yours. Hence, it will be suitable for mortgage, then will ask legal papers for it.

Your income is what they will ask for education loan, if you are earning good enough from such shops, then you can become a guarantor for loan.
Do you have any question? or have anything to say?



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