Swathi priya (s/w engg) 06 November 2012

Is noc needed from daughter for mortgage loan on my property

Im a retired bank employee trying to get a mortagage loan on my own(NOT ancestoral) property. I approached HDFC bank for the same and they made me pay Rs.5600(non-refundable) towards loan application. Now they have put my application on hold saying that i need to get NOC from my daughter and son-in-law to proceed with the loan. When the property is owned by me and im the sole owner of the property, then why should my daughter give an NOC? My daughter and son-in-law stay in US and i dont have any easy way to get their NOC now. The bank gave this silly reason and im totally stuck with no funds. Also the amount Rs.5600 paid initially is almost lost by now. Please let me know if the bank's claim is correct.

Regards,

Swathi

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5 Replies

Varun Desai (Advocate) 06 November 2012

Hello,

If property is your self acquired than NOC is not required by your daughter and son in law but if you inherited by any other means than it’s required.

You ask the purpose why they want NOC of these persons when property is self acquired by you...

Swathi priya (s/w engg) 06 November 2012

Can i approach banking ombudsman for justice in this issue?

surjit singh (Assistant) 06 November 2012

Actually Banking Ombudsman is for correction of the defficiency in the process of banking transaction. But you can also approach the Ombudsman because you have got a clear title. It is unfortunate that a retired bank official is being harassed by a in service official.

Adv Akhtar Ali Sheikh (Property Law Consultant) 06 November 2012

It is not warranted by law, ask for a refud

RAJU O.F., (Advocate) 28 November 2012

Charging Rs.5600/ for application form is exhorbitant. It may be for processing your loan application. If it was your self acquired property, any NOC of others may not be required. Instead of rejecting your loan, bank may be asking difficult stipulations. Please try another bank and ignore loss of the said amount, so that you can save your energy, tension and further money if you go for further proceedings against HDFC.