CONDITIONS FOR DISBURSEMENT OF THE LOAN. Submission of all relevant documents as mentioned by BHFL in the Sanction Letter, Loan Agreement and other Loan Documents; • The following additional conditions will also have to be satisfied by the Customer: o Legal & Technical Assessment of the Property; o Clear, marketable and unencumbered title of the property offered as security; o If the loan is a Home Loan, proof of payment of the own contribution towards the purchase of the Property by the Borrower has to be submitted to BHFL; o The construction carried out over the Property/ies has been undertaken as per the approved plans and as per applicable laws/bye-laws/rules and regulations; o All required approvals (including, but without limitation, the approved plans and the statutory approvals) for the property have been obtained and submitted to BHFL.
CONDITIONS FOR DISBURSEMENT OF THE LOAN. FIHFC shall not disburse the home loan to the Borrower unless the conditions mentioned in the Home Loan sanction letter and Loan Agreements are complied with, to the satisfaction and sole discretion of FIHFC.The conditions are including but not limited to the following: -
CONDITIONS FOR DISBURSEMENT OF THE LOAN. Submission of all relevant documents as mentioned by BHFL in the Sanction Letter, Loan Agreement and other Loan Documents; • The following additional conditions will also have to be satisfied by the Customer: o Legal & Technical Assessment of the Property; o Clear, marketable and unencumbered title of the property offered as security; o The construction carried out over the Property/ies has been undertaken as per the approved plans and as per applicable laws/bye-laws/rules and regulations; o Meeting all the relevant conditions as specified in Sanction Letter o All required approvals (including, but without limitation, the approved plans and the statutory approvals) for the property have been obtained and submitted to BHFL.
CONDITIONS FOR DISBURSEMENT OF THE LOAN. Instalment of the Loan: The conditions for the disbursement of the Loan shall be mentioned under the Loan Documents in details however, some of the salient and major conditions are mentioned below:
CONDITIONS FOR DISBURSEMENT OF THE LOAN. As per conditions precedent to disbursement of Loan specified in Loan Sanction Letter and Loan Agreement, Loan sanctioned would be disbursed subject to technical and legal scrutiny of the property and title documents. The proposed property for which the loan is required would be evaluated for its value and marketability and approvals etc. by the technical team. Plan approvals from competent authority are mandatory for housing loans. Similarly, the property documents would be scrutinized for its legal title and clear and marketable title. When the loan applied is for construction of a property or purchase of an apartment from a builder, the borrower needs to have completed the construction to the extent of his margin contribution or paid his margin to the builder before the disbursement. Further, loan will be disbursed in stages, based on the completion of construction.
CONDITIONS FOR DISBURSEMENT OF THE LOAN. CGHFL shall not disburse any loan to the Borrower unless the conditions mentioned in the sanction letter and loan agreements are compiled with to the satisfaction and sole discretion of CGHFL few of which are as given below :-
CONDITIONS FOR DISBURSEMENT OF THE LOAN. The mode of disbursement of loan shall be disbursed either in lump sum or in suitable installments, which shall be decided by ICCL, subsequent to taking into consideration of the needs/ progress of construction/ nature of transaction being financed. All the disbursal payments by ICCL shall be made through the cheque duly crossed and marked account payee only. The loan facility may be reappraised on legal, technical, and financial terms before disbursal or during the continuity of the loan wherever needed and ICCL may hold, suspend, downsize, cancel or recall the loan facility, if any findings make it necessary to do so in the interest of the lender. ICCL shall not disburse any loan to the Borrower/s unless the conditions mentioned in the Sanction Letter and Loan Agreements are complied with, to the satisfaction and sole discretion of ICCL. Few of which are as given below: • The Borrower must fulfil the ICCL’s requirement of credit worthiness. • Execution of loan agreement and such other ancillary documents • Submission of ECS/ACH/ etc. any other clearing system in force for the time being towards repayment of instalments • Creation of security in favour of ICCL. • Utilisation of disbursement should be as per the end use specified • The Borrower must disclose every material fact/s which may affect the borrower’s loan proposal.
CONDITIONS FOR DISBURSEMENT OF THE LOAN. Conditions to be fulfilled as indicated in the loan sanction letter accepted.
CONDITIONS FOR DISBURSEMENT OF THE LOAN. As per terms and conditions mentioned in the Sanction Letter and the Loan Agreement.
CONDITIONS FOR DISBURSEMENT OF THE LOAN. The borrower shall:
