Loan against property

A loan against property (LAP) is a secured loan raised by mortgaging a residential or commercial property you already own, while continuing to use it. Because the lender holds security, rates sit well below a personal loan, though above a home loan, and tenures run long. Lenders typically fund 50% to 70% of the property's assessed value — a lower share than a home loan, because the money is not being used to buy the asset. The risk is concrete: default can cost you the property. Sanction is at the lender's sole discretion.