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Q.

Hello, my family has taken home loan from a national bank amt 1250000/- in 2008 against agriculture mortage , now we want to take a loan from any other bank for agri business against same agri land. pls suggest to take over the old loan which new bank will be preferable

Tags: money, home loan, real estate
Asked by Nilesh Jadhav, 24 Jul '11 03:31 pm
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Answers (3)

1.

Try nationalized bank
Answered by anil garg, 24 Jul '11 06:08 pm

 
  
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2.

[i] you can mortgage the same land which you have declared as a security for another loan;
[2]moreover, you think you can take loan for agrl. purpose on the same land without letting your first banker know about it you are mistaken,
[3] If your land values more than the amount borrowed for house loan, you can take loan agrl. loan from the same bank or with their knowledge ; the problem is you can not pledge the same land twice in favour of two authorities.
The better way is either you take loan from he same bank or get the H.L. transferred to the other bank who can grant the agl. loan too.
In this connection you should do well if you consult the BM of the bankrom where the first loan is taken.
Answered by Om Shrivastava, 24 Jul '11 03:43 pm

 
  
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3.

I do not think that once u mortgage, same thing can not be re-mortgage again.
Answered by pramod rajapurkar, 24 Jul '11 03:38 pm

 
  
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