Home loan for married daughter & mother co-owning property

If the house sold by mother was her slf acquired/absolute proeprty the funds should be her self acquired assets.

Generically Speaking: In the house you intend to purchase and avail loan for the same there should be no need of NOC from other family members.

Or to give up their share.

You may elaborate why the requirement for NOC by lender is posted. 

Yes, the property was acquired by herself through her own funds. The Lender has stated that Married daughter cannot take a home loan with her mother being a co-owner. The NOC is supposedly to prevent any legal claims occuring on the property by the legal heirs , which as per them could be my sibling and my dad.

Is this a valid reason for rejecting the home loan application? Please advise?

From your last post it is assumed that you are a woman and married.

The secured lender has 1st right.

Of course in case of unfortunate even of death of one borrower/Co-borrower, succession opens however in case of secured lending, the lender's interest is safe.

This lender is extra cautious.

If you wish you can try other lender's.

Against Rs.30/ of loan your are pedging property of Rs.100/

You can have better options as well.

Yes you are right Kumar,  I am a married woman and am trying to avail this home loan for the property that I am seeking to buy with my mother. Thanks for your prompt reply. I am glad to know that this need not be a detterent to my loan application. 

I was worried since most of the loan sites put a co-applicant as a person with <60 to 65 years of age ( which in my case , my mother has to be a default co-applicant since she is a co-owner irrespective of the fact that she is 75 and will not be contributing to loan repayment) 

Let me see that the bankers have to say to this. Thank you so much.

1. You can apply for loan and they will satisfy with your salary certificate.  

2. One co-obligant may be required.

3. Better take release deed from your siblings stating that  they have no claim over the property.

4. For more suggessions please visit my office in Bangalore.

Instead of loan sites; speak to the lender institution in person e.g; M/s SBI..

Pick up the best option.