Mortgage Loan

A mortgage loan, also known as a loan against property (LAP), is a secured loan offered by banks and financial institutions against the mortgaging of residential or commercial property. The borrower retains ownership and can continue using the property, but the lender holds the property title until the loan is fully repaid. Mortgage loans are ideal for meeting large financial needs such as business expansion, education, medical emergencies, or debt consolidation. They usually come with lower interest rates, longer repayment tenures, and higher loan amounts compared to unsecured loans due to the security of the property.