Is there any way for me to get a loan for the full value of a flat that I wish to buy?
Gurmeet Singh, Gurugram
As a safety measure, banks like the owner of the property to have a stake in it; a reason why they ask you to bear at least some portion of the cost of the house. In many property deals, there tends to be an element of cash payment, which increases the owner’s stake to a proportion that is higher than the 10 per cent applicable for the loan. At the height of the competition for home loans, some banks were willing to consider a 100 per cent loan, but those options are not available any more. If you do not have enough money for the down payment, you will have to organise it on your own as the lender will not fund this sum.
