Execution of mortgage deed for bank

U just submit original title deed to bank and sign emt(equitable mortgage) paper. Then bank will verify it in national database and register property in its name.

What exactly you mean by picking up a loan? Loans are sanctioned by Banks when you apply, if they find the application and your credit rating and other credentials are OK. You cannot just like pick up loan like some vegetable in the market.

 

When Bank is giving loan as part of their security they shall be putting a condition for mortgage of property. The steps are as follows:

 

1. Legal Scruitiny Report:- You have to give all details of your property proposed to be mortgaged tobank with copies of the relevant title deeds and link documnts like tax paid receipts, title deed of vendor who sold the property to you etc.  If you do not know whatpapers need to be submitted,  bank will tell you. You shall be directed to a bank panel Advocate and you have to visit him with the originals.  He shall give a legal scruitiny report, giving his opinion whether the property can be mortgaged to bank securing their loan to you.
2. After the above step, you shall be directed to approach a panel valuer. Panel valuer shall visit the property for valuation purpose and gives his valuation report to the Bank.  This is to ensure that your property is in fact valuable enough for the proposed loan.
3. After the above two and bank is satisfied about legal scruitiny report and valuation report, they shall advise you to call on them on a mutually agreed date for creating Equitable Mortgage. You shall advised to bring the documents in original a list of which shall be given to you.
4. When you call on the bank with the documents etc. you shall have to deposit the documents and sign Letter Evidencing Deposit of Title Deed or such similar paper by which you shall be creating equitable mortgage in favour of the bank.  In some states, it attracts stamp duty and you have to bring the requisite stamp paper or bank shall procure the stamp paper and you have to pay for it.
5. One day subsequent to creation of mortgage, loan shall be disbursed.
6. It is always better to take photo stat of all the documents being deposited with bank and obtain a copy of the document you are signing with them.

The bank knows the procedure and will teach you how to do it and you will be required to follow the procedures if you are interested in availing loan, so approach bank for knowing the details.