bank refusing home loan even though property is legally cleared
2 years ago
I had seen a flat which i had intended to purchase.
Both my CIBIL score & loan eligibility is very high as I already have presanction loan letter of 30 lakhs.
Also the property papers are legally clear, as the building has full Occupation certificates & many existing flat owners in same building have taken loans from all major banks.
But there are 2 reasons for for which my bank has rejected to offer me a loan.
1st reason is that this flat is currently under mortgage (Home loan by existing owner) with DHFL bank.
2nd reason is that since the flat was registered with owner & co-owner as the first name of Wife & second name of Husband. Now the husband has died (7 years back) & the wife is facing financial issues for which she is selling the flat. She has also transferred all the shares of her deceased husband under her name. Also there is no Legal heir who can claim of the flat.
Please advice
You can approach banking OmBudsman.
Ankur Goel @ Complete Law Shield
Responded 2 years ago
You can try different bank or DHFL if you are ok with it.
or
You can ask seller for NOC from DHFL.
1) As u said there is previous flat loan mortgage (Home loan by existing owner) with DHFL bank. So if the value of the SALE DEED is Rs.50 lakhs then u have to pay 20% as down payment to the LADY OWNER whom u r dealing with so pay her Rs.10 lakhs & so then she will pay to the DHFL bank. If her share is more THEN ALSO NO PROBLEM. Now the bank will give u say loan of Rs.40 lakhs & if the DHFL bank balance is Rs.15 lakhs then NOW UR BANK will give DHFL BANK cheque of Rs.5 lakhs & the rest balance amount to the LADY OWNER WHO is currently owning the flat & thus ur transaction can be completed 100%.
2) Kindly provide with more details of property & loan u are availing & we can solve ur query without any further delay. Require to approach through paid consultation.
If you realize my professional skills, the time & efforts put in by me needs to be truly appreciated, and then Please “CLICK MY LIKES/ THUMBS UP/GIFT” button shown below this reply format & also CLICK/ WRITE a “REVIEW” in 5 star as I have answered your query in detail. Hope this information is useful
ADV. ANISH PALKAR (High Court)
The wife has to take an NOC from the DHFL and then only you loan can be passed. Alternatively, the wife can give an undertaking to the bank that she will pay the loan amount through the sale money.
If you like my answer, please rate me.
Ayantika Mondal @ Prime Legal
Responded 2 years ago
You could ask the wife to get a noc from her bank regarding the sale of property. If the previous lending bank can provide an NOC and the wife can give an undertaking that she will use the proceeds from the sale money to repay the previous loan, your loan may be get sanctioned, but its upto the discretion of the bank.
If you like my answer, please rate me.
Pardeep Kumar Dhiman Dhiman
Responded 2 years ago
House registry in Haryana
LTCG ON SALE OF PROPERTY
Relinquishment deed signing by sister
Apartment issue
Formalities to be done by landlords regarding tenants in Ghaziabad UP
