Am I eligible for loan?

Submitted by Nadeem on Thu, 2006-07-20 10:49. :: Loans

I am heir to property, though not in my name. Actually its joint property and I want to construct first floor on the house with ground floor only. Am I eligible for home loan, since I am heir to property but it has not been mutated so far?

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you have to transfer the

Submitted by chocolate101 on Thu, 2008-02-28 09:57. *

you have to transfer the title of the lot to your name first. for more info on loans here's a good site: http://www.whataboutloans.com

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You have to actualy own

Submitted by bree-anne on Sat, 2007-10-13 12:57. *

You have to actualy own property to be able to put it up for security. In my experience unless an item is in your name there is no way a bank will look at it. You and the bank does not know when this property may come into your name it may be years. They want security now. They will not use someone else's security against your loan unless you are going for a loan with a guarantor.

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No, legally speaking, you

Submitted by Sunman on Sat, 2006-07-22 17:11. *

No, legally speaking, you are not entitled to any benefit or loan untill you have property in your name.

Being an heir to property is not a good plea for getting any loan.

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Am I eligible for loan?

you have to transfer the

You have to actualy own

No, legally speaking, you

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