Shazia Khan 18 September 2021

Mortgage

Sirs,

My friend is in need of a loan. He is willing to mortgage his under construction (redevelopment) flat. Can I give loan by entering into a mortgage deed and can such deed be registered? or it is only a company/ corporate who can give loan against mortgage.

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Quick Summary

This discussion explores the possibility of an individual lending money to a friend by taking a mortgage on their under-construction flat. It clarifies that a registered mortgage deed can be used for such private loans, confirming the property is unencumbered before proceeding. The consensus is that individuals, not just companies, can provide loans against a registered mortgage.