• Suspicious housing loan processing

Hi, I approaching a bank for housing loan and have deep suspicion in the manner in which the loan was processed and inspite of my multiple attempts no clarity has been provided. which legal forum should I reach out to get clarity for the same.
Asked 28 days ago in Consumer Law

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16 Answers

Hi, you have to ask the Bank only. If they not satisfactorily answered your query then you can cancel the processing. 

Pradeep Bharathipura
Advocate, Bangalore
4698 Answers
244 Consultations

4.5 on 5.0

Refuse the loan than. You can complain to RBI 

Yogendra Singh Rajawat
Advocate, Jaipur
21402 Answers
31 Consultations

4.4 on 5.0

Approach reputed housing finance company for loan 

 

in alternative go on for it reputed banks from public and private sector 

Ajay Sethi
Advocate, Mumbai
79294 Answers
4742 Consultations

5.0 on 5.0

As per the rbi guidelines they need to give you a reason for denial. But transparency cannot be expected from them. You can complaint to banking ombudsman or cosumer court for the same

Prashant Nayak
Advocate, Mumbai
22417 Answers
49 Consultations

4.4 on 5.0

1. The information you provided is too scant to give you further advice in understanding what wrong has been caused to you.

Anyway if you are aggrieved by any of actions arising out your loan transaction then you can file case before the consumer forum seeking redressal of the grievance and damages.

If the dispute extends to the limit of attachment of your property then  your recourse lied in Debt Recovery Tribunal. 

Devajyoti Barman
Advocate, Kolkata
21680 Answers
311 Consultations

5.0 on 5.0

What clarity are you not getting from the bank ?

Are they not sanctioning the loan despite submitting all reliable and genuine documents?

Did they reject your application?

Did they respond to your application or there was no response at all?

If the bank remains silent without giving you any details, then you can look for some other bank for home loan instead of wasting your precious time with these people who are reluctant.

You cannot force them to sanction loan because sanctioning loan shall be the final discretion of the bank manager.

If you have sufficient time, energy and money then you can initiate legal action against the bank for their hostile attitude, but the ultimate result may not be in your favor hence think about it twice before   planning to initiate any legal action against them.

 

T Kalaiselvan
Advocate, Vellore
69328 Answers
929 Consultations

5.0 on 5.0

Written complaint to the bank ombudsman 

Rahul Jatain
Advocate, Rohtak
5364 Answers
4 Consultations

4.8 on 5.0

File a complaint in the consumer forum immediately for deficiency in services and unfair trade practices.

Rahul Mishra
Advocate, Lucknow
11560 Answers
20 Consultations

5.0 on 5.0

Dear Sir,

Some Banks and their legal advisors for a want of some monitory consideration do like that. If you are not comfortable with the branch you may approach its Head office or even banking ombudsman. Alternatively you may take entire file from it and approach any other bank which is more comfortable to you in advancing the loan.

Kishan Dutt Kalaskar
Advocate, Bangalore
5583 Answers
218 Consultations

4.8 on 5.0

In which bank you're applying for home loan in that bank's head office.

Ganesh Kadam
Advocate, Pune
11668 Answers
109 Consultations

4.9 on 5.0

You can ask for clarification in case you do not understand any particular term.

Mohammed Mujeeb
Advocate, Hyderabad
18935 Answers
11 Consultations

4.5 on 5.0

Dear Sir/Madam,

You are suggested to file am RTI application and the bank will be required to give that. 

Ganesh Singh
Advocate, New Delhi
6512 Answers
13 Consultations

4.5 on 5.0

You should approach Banking ombudsman or you can file suit before consumer forum against bank on ground that loan was issued without disclosing all the details about loan scheme. 

Mohit Kapoor
Advocate, Rohtak
10685 Answers
7 Consultations

5.0 on 5.0

File a complaint with the banking ombudsman appointed by the RBI on line.

Koshal Kumar Vatsa
Advocate, Gurgaon
2236 Answers
3 Consultations

5.0 on 5.0

You need to contact the Branch Manager of the Bank and seek clarity in writing expressly  E mails for the process of loan sanctions .

No forum or Advocate and Lawyer would provide you complete clarity of process of loan.

Therefore for your best interest approach bank manager directly if not satisfied drop the proposal and withdraw from accepting the  loan from such dark shadow bank.

Ramesh Pandey
Advocate, Mumbai
2538 Answers
8 Consultations

5.0 on 5.0

- You should lodge a complaint against the said bank to its head office , and thereby ask for giving you complete information . 

- Further , you can also file a complaint before the Consumer forum on the ground of deficiency of service by the said bank. 

Mohammed Shahzad
Advocate, Delhi
5531 Answers
51 Consultations

5.0 on 5.0

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