Hi, Could you please let me know any banks in Hyderabad who provides housing loan with equitable mortgage(Title deeds or ownership documents of the property are deposited with the mortgagee) without registration. Regards, Vinay K
registration of equitable mortgage is mandatory
In case of creation of equitable mortgage by deposit of title deeds, the mortgagor is now required to send online notice of the mortgage to the registering officer within 30 days using e-filing module under Section 89B of Registration Act
The loan is provided by the bank on the basis of tripartite agreement which creates obligation for the second party to deposit the registration deed with the bank as the mortgaged property when the property is registered
Thank You Ajay Sethi. Sorry to ask this question since i do not have any idea on this.Is this for Applicable for Hyderabad,Telangana? I am looking for construction loan and need some banks who do the same.If any of you know about this please let me know this bank name. Regards, Vinay k
For the construction loan you can approach to the any branch positively where you have the bank account in case the same bank is happy to give you the finance then ok otherwise you can approach to HDFC and they will be happy to give me the construction loan
You can get construction loan from ICICI Bank.
reputed private sector banks like HDFC banks , HDFC , May be registering equitable mortgage
check with local lawyer in telengana whether registration is made mandatory in your state
There are many banks provides home loan in hyderabad. You have to compare interest rate and offers before apply for loan.
Instead of bank you may contact some NBFC who do provide the loan upto a certain limit on the basis of the equitable mortgage.
Regards
You may get in touch with some local agent or company, a lawyer will be of less help to you in this case.
Regards
The registration of the mortgage is compulsory.
For construction loan construction agreement is required to be deposited with bank you can contact any private bank for same.
In general the bank will collect the title deeds and may register the same under MOD.
Some banks don't register Memorandum of title deposit deed.
You may collect the names of the bank which do not register MOD in EM loan from your sources in Hyderabad.
You may take the assistance of any advocate on his terms, who hail from Hyderabad and collect the desired information.
Every bank has its own policy to disburse loan of various kinds.
The equitable mortgage for loan to buy the same property is most common form mortgage and loan.
However in the case of constructions loan then also the owner can create equitable mortgage in respect of the same land/property on which the constructions is to be made.
Nowadays almost all leading banks provide constructions loans on various rates of interest.
you need to approach the banks directly this is a legal forum sir.
Dear Sir,
Almost all co operative banks of Telangana State have discretionary powers to sanction the loans. If you approach few directors of the said local banks.
