Benefits of Applying Online
When Banks Compete, you win.
Apply for a Home Loan at ApnaPaisa and we will match your requirements with the best offers from our network of over 400 service providers. We will get a maximum of five providers to compete for your business. WHEN BANKS COMPETE YOU WIN. You can then decide which home loan is best for you based on:
- Lowest Interest Rate
- Lowest EMI
- No Pre-payment charges
- Lowest Processing Fees
- Maximum Eligible Loan Amount
- Mandatory Documents Required
- Lowest Processing Fees
Or any other factor that is important to you.
Negotiating Tips
1) If you have a good credit record and your income is sufficient to justify the loan you can negotiate on interest rates. You can also try and get Processing fees or legal or valuation fees reduced or completely waived.
2) If you go for a floating rate loan then pre-payment charges are not payable.
3) When interest rates are high and are expected to go down you should go in for a floating rate loan as it makes no sense to lock into high fixed rates or the so called Dual rate loans where rates remain fixed for a couple of years before shifting to regular floating rate loans. Please review this decision at least once every 6 months
4) Take term insurance and critical illness and accidental disability policy for the full loan amount to make sure you or your loved ones don't have to worry about loan repayment should you die or are disabled due to a critical illness or accident. You cannot be forced to buy this policy from the insurance company chosen by the lender - you should choose your own insurer.
Government proposes to abolish transfer fees to contain growth in real prices
Government plans to abolish transfer fees to property buyers to contain growth in real prices. The abolishment of transfer fee will not have any implications for the state exchequer, so states might make a move in favour of the ban.Apnaloan.com Research Bureau
07 Sep 2007
The government plans to abolish transfer fees charged on property buyers at the time of sale. However, the proposed abolishment of transfer fee will not have any implications for the state exchequer, so states might make a move in favour of the ban.
At present, the transfer fee adds to the property developer's profits. The ban on charging a transfer fee to the buyer is expected to bring down the real estate prices for the end user.
The Maharashtra government has already banned the transfer fee. The department of consumer affairs, which has mooted the proposal, is of the view that this charge often leads to artificial escalation in property prices. The fee varies according to the kind of property and its location. Normally, the transfer fee ranges from Rs 100-700 per sq feet in New Delhi.
The proposal to completely abolish this fee is a part of a series of government measures to put a check on the ever-increasing property prices.
As part of this exercise, the urban development ministry had asked state governments to bring down stamp duty in their respective states to 5 per cent. This criterion was made mandatory for states to avail of funding under the Jawaharlal Nehru National Urban Renewal Mission.