Home Loan rules for property sale between blood relation?
I want to sale my current flat to my younger brother as i wish to buy new one near by my office.
I am having Home loan on current flat and want to apply for fresh loan to purchase new flat. My Younger brother has good income through salary and eligible to purchase my flat by taking home loan against my property.
We had approached one bank for My brothers loan and received sanction as well. Problem occures when bank rejected his application stating transaction between Blood relation is not acceptable.
Request if any one has experienced similar case and advise if any bank accept such transaction and disburse amount to my current bank to clear my outstanding.