Dear Sir,
I have applied a home loan of Rs. 8,00,000/- with Deutschepostbank Home Finance Co. Ltd., Gurgaon, Haryana in January 2010 of the property aleardy financed by them to the seller from whom I intended to purchase. on 23/02/2010 they have issued me sanction letter of Rs. 8,00,000/- with special condition that only Rs. 6,00,000/- would be disbursed at the time of registry and balance Rs. 2,00,000/- after I providing the " Permission to Mortgage" from the concerned Land Office. The registration of documents was done on 22/03/2010 and the company released the payment of Rs. 6,00,000 as agreed. Now at the time of registry I arranged the balance fund of Rs. 2,00,000/- from my own funds and do not require any fund from the co. Moreover the Land Office of my area when contacted inform me that they do not issue " permission to Mortgage". When contacted to the company to provide me date of my first EMI they inform me that EMI will not be started untill the permission to mortage be submitted with them and also thereatened to cancel the loan and issue the demand notice of Rs. 6,00,000/- with preclosure charges.
Kindly advice accordingly.
Mudit Kumar Rastogi
