How to get a Loan Against Property with Low Credit Score?

If you're concerned about securing a loan against your property with a less-than-perfect credit score, here's a simple guide:

Eligibility for Loan Against Property with a Low Credit Score:

Yes, it's possible to obtain a loan against your property even if you have a low credit score but there are a few factors to be noted:

1. Loan-to-Value (LTV) Ratio: Lenders may offer a lower LTV ratio, which means you can borrow a smaller percentage of your property's value.
2. Interest Rates: Your interest rates may be higher compared to those with better credit scores.
3. Collateral Matters: The property you're using as collateral is crucial. Its value and condition play a significant role in loan approval.
4. Repayment Capacity: Demonstrating a strong repayment capacity, such as stable income and employment, can improve your chances of approval.