What is Loan Against Mortgage?
Both 2 and 3
- Loan against Property
- Loan against House
Loan against Mortgage is basically credit/loan against any immovable property as the guarantee. It offers term loan/ overdraft facility for specified purpose against the security of immovable property (i.e. for investment in business, personal expenses etc.)
What is the loan? When you got some money or cash from any financial institution is called the loan. When You take the loan in lieu of your fixed assets as (which immovable as the guarantee) is called the loan against the mortgage.