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  #1  
18th April 2016, 12:04 PM
Unregistered
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How can I get Bank Education Loan against my property which is not registered?


Hi,
I have secured admission in a reputable university in Germany but I am facing problem in securing an Education Loan. I need atleast Rs. 20 Lacs of Education Loan against mortgage. I have a property whose value is Rs. 50 Lacs approx. But I don't have a registry for that and instead I have a registered power of attorney. Banks says that they need a registry, which will cost me a lot. Is there any way out? Please help me in this regard.




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  #2  
21st April 2016, 01:14 PM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: How can I get Bank Education Loan against my property which is not registered?

I am extremely sorry to state that you cannot opt for education loan by keeping a property as mortgage for which you do not have registry done. You need to show registry and tax certificate to bank to take loan against its mortgage. There is no other way out unless you have any other property to keep mortgage. You should do the registry as soon as possible and then apply for loan if you do not have any other property to show as education loan.
  #3  
21st April 2016, 01:24 PM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: How can I get Bank Education Loan against my property which is not registered?

I am extremely sorry to state that you cannot opt for education loan by keeping a property as mortgage for which you do not have registry done. You need to show registry and tax certificate to bank to take loan against its mortgage. There is no other way out unless you have any other property to keep mortgage. You should do the registry as soon as possible and then apply for loan if you do not have any other property to show as education loan.
Do you have any question? or have anything to say?



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