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Union Mortage Plus

UNION MORTAGE PLUS

PURPOSE

ELIGIBILITY

Home Loan borrowers (Existing as well as new)**
Borrower whose home loans are taken over from other Bank/FI. In case of takeover of home loan, the loan can be sanctioned simultaneously with housing loan.
All the owner(s) of the property have to join in as co-applicant(s).

Note: Property should be in the name and possession of the borrower. Loan can’t be considered for under construction property

QUANTUM OF LOAN

NATUE OF FACILITY

MARGIN

25% of the value of the property after including outstanding of existing housing loan as well as proposed loan under mortgage plus.

REPAYMENT

Lowest of the following:
- 30 years from the date of sanction
- Borrower attaining age of 75 years (subject to assessment at the time of sanction the adequacy of income to meet repayment till the age of 75 years).
- Five years prior to residual age of the building i.e. loan should be liquidated 5 years prior to the residual age of the building

MORATORIUM

RATE OF INTEREST

Please click here to know our latest interest rates
Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actuals.

PREPAYMENT PENALTY

SECURITY

GUARANTEE

If any guarantee is obtained for existing housing loan, the same is to be required for mortgage plus loan.

INSURANCE

Property should be comprehensively insured for an amount not less than the value of the property (less cost of land), covering all risks with Bank clause.

**Conditions apply.
**Contact our nearest branch for further details**