Documents Required from Self-Employed to Avail Loan Against Property

Loan against property or mortgage loans are one of the most popular types of secured loans where the borrower enjoys multiple benefits like lower interest rates, faster processing, and flexible tenures.

Although such types of loans are popular among everyone, self-employed personnel prefer LAPs for their specific requirements. Hence self-employed personnel should know about the documentation needed for availing such loans. Loan Against Property documents checklist- 

https://www.fullertonindia.com/loan-against-property-documents-required.aspx

Loan Against Property Documents Required:

1. Application form: online/offline by visiting the branch
   
   
2. Passport size photographs
   
   
3. Proof of identity: (any of the below)
   ~ PAN card copy
   ~ Driving license copy
   ~ Passport copy
   ~ Voter ID copy
   
   
4. Proof of address: (any of the below)
   ~ Telephone bill
   ~ Electricity bill
   ~ Ration card copy
   ~ Rental agreement
   ~ Bank passbook/statement
   ~ Driving license copy
   
   
5. Proof of age: (any of the below)
   ~ Certificate from statutory authority
   ~ Passport copy
   ~ PAN card copy
   
   
6. Form 16
   
   
7. IT returns from the last three years
   
   
8. Processing fee cheque
   
   
9. CA attested income & other financial statements
   
   
10. Property documents: chain of documents & approval plan copy

Documents to be submitted by business entities:

(Anyone of the following)

1. Certificate for Shops & Establishment
2. Certificate for Trade License
3. Certificate for SSI Registration
4. PAN Card copy / Sales Tax document/ VAT Registration Certificate
5. Export-Import Code Certificate / Certificate of Factory Registration
6. Certificate and Degree Certificate of Professional Qualification for Professionals
7. Certificate for SEBI Registration
8. No Registration Issued by the ROC

Conclusion: 

Self-employed personnel might have multiple financial requirements, and the best way to approve the loans faster and have competitive property loan interest rates is by submitting appropriate documents. 

Additional Read: All You Need to Know About loan against property in India