Which loan against property documents do lenders usually require?

While applying for a loan against properties (LAP), you have to keep certain things in mind to have a quick loan disbursal from your lender. The most important thing is that you should have an appropriate asset that you can keep as mortgage or security and the documents related to the asset that you have to submit. These documents are crucial as they are proof of your declaration related to your eligibility of getting the loan. So, start organising the papers while you apply for a LAP as the lenders would scrutinise them thoroughly before approving the loan. Read on to more about the loan against property documents that lenders would usually ask you to submit.

You can submit hard or soft copies of the documents as both are acceptable. If you are applying online, it would require uploading soft copies only. The number of documents would vary according to lenders but some standard requirements would include:

KYC documents. You may have to submit one or more of the documents:

  • PAN Card
  • An active passport whose validity has not expired.
  • Valid driving licences
  • Voters id card
  • Job card issued by NREGA. It should have the signature of a designated government official.
  • Letter issued by the National Population Register containing your name, address, etc.
  • Aadhaar card

Income proof for a salaried individual:

  • Last 3 month’s salary slips
  • Last 6 month’s bank statements
  • The latest Form-16 and IT returns
  • Title deed and other related property documents
  • Proof of no loan/mortgage on the property that you would offer as collateral
  • Approved plan in case of an under-construction property
  • Property valuation report
  • Correctly filled up loan against properties application form
  • Insurance documents

In case you apply for loan against property for purchasing a house, your lender may ask you to get a life insurance cover in addition. The premiums are affordable and you will be covered under the policy during the entire loan duration. The insurer may also offer a property insurance cover to protect against accidents or damages. You can get funding for the insurance premiums also. You have to submit the insurance documents also while applying for the loan.

Other documents

  • Employment Contract or appointment letter if you are a less than one year old employee in an organisation
  • Last 6 month’s bank statements to show repayment status of any ongoing loan
  • Passport size signed photograph of the applicants and co-applicants
  • Declaration and documents stating the end use of the loan
  • Proof of any down payment or own contribution


The banks or finance institutions would not burden you with the submission of a range of documents that would be difficult for you to arrange within a short time.

  • The lender may conduct a field visit to check the condition of the property that you have placed as collateral.
  • He will also determine the cost of the property and verify all the information that you have provided.

After all these are completed, the lender would process your loan. Remember to put down the correct information and submit proper documents while applying as the lender would cross-check all the details. You can track your loan account on the lender’s portal as per your convenience.

Fees and charges

There would be certain fees and charges that you have to pay during loan application. These consist of the processing fee, legal fee, stamp duty. You can pay for the charges through cheques or through online payment mode. If you fulfil the eligibility and documentation requirements, the lender would approve the loan. LAP is a secured loan that can provide you financial support during difficult times, so that you do not need to cut down on your regular expenses or drain away your savings.

However, the approval of this loan would depend on your eligibility and as proof you have to submit certain loan against property documents. You may submit them in hard copy or soft copy format but remember to provide appropriate proof, so that you can get the loan on a fast-track basis.

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