What is the procedure for applying for a housing loan against my LIC policy?
• A non-refundable processing fee of Rs.100/- if the loan amount applied for is Rs.1 lakh. Any sum higher than Rs.1 lakh requires a processing fee of Rs.250/- • A true copy of the building plan sanctioned by the local authority and certified by a qualified architect or civil engineer. • If employed, your employers’ certificate in the prescribed proforma, both for yourself and your guarantors. In case you and your guarantors are self-employed then certified copies of your income tax returns or assessment orders with statements of income over the last three years are necessary. • An attested copy of the title deed or agreement for sale along with a detailed title investigation report mentioning the root or abstract of title in chain for a minimum period of 15 years given by the solicitor or advocate of the builder or the society. • An allotment letter, where the housing cooperative society is already registered indicating the details of the flat or house and its estimated cost. • Detaile
