CALL US : 044 - 4265 2238, 90430 42627, 90940 49786
MAIL US : ch40coophousesty@gmail.com
CACHS.IN
TRUELY HOUSING SOCIETY
CALL US : 044 - 4265 2238, 90430 42627, 90940 49786
MAIL US : ch40coophousesty@gmail.com
TRUELY HOUSING SOCIETY
Applying for a mortgage loan involves more than choosing a loan amount and repayment plan. Since the loan is secured against a property, the lender needs to verify the applicant, income details and legal ownership of the property. Having the required documents ready can make the mortgage loan application process more organised and straightforward.
For homeowners in Chennai, understanding the documents required for a mortgage loan is especially important when the property is being offered as security. The exact requirements can vary depending on the lender, property and applicant's circumstances.
If you are planning to apply for a mortgage loan against your house, here is a practical guide to the key documents you may need.
A mortgage loan is secured against a property. Therefore, the lending institution needs to establish that the applicant has valid ownership or rights over the property and that the property can be accepted as security.
Documents help the lender verify important details such as:
Providing complete and accurate documents can help avoid unnecessary delays during the application and verification process.
The documents required can differ based on the lending institution and individual application. CACHS lists several documents for its mortgage loan against houses.
A recent photograph of the applicant may be required as part of the loan application and identification process.
A photograph of the property being offered as security may be required for property identification and verification.
A family photograph is among the documents listed by CACHS for its mortgage loan process.
A copy of the ration card may be required as part of the applicant's supporting documentation.
Applicants may need to submit an appropriate document establishing their age.
This can be important for verifying eligibility and assessing the applicable loan terms.
Income documentation helps establish the applicant's financial capacity and ability to repay the mortgage loan.
Applicants should ensure that their income-related documents are current and accurately reflect their financial position.
A copy of the electricity card or electricity-related property document may be required as part of the property verification process.
A copy of the bank passbook may be required to verify banking details and support the applicant's financial information.
Where applicable, a rent receipt may be required as part of the supporting documents.
The requirement may depend on the applicant's circumstances and property details.
Property documents are among the most important parts of a mortgage loan application because the property serves as security for the loan.
For properties located within Corporation limits, property tax-related documentation can help establish the property's tax records.
Applicants should keep the relevant property tax documents available for verification.
A Patta is an important land-related document in Tamil Nadu. It contains details relating to the land and is commonly used during property-related verification.
When applying for a mortgage loan, applicants should ensure that the Patta details are consistent with the property ownership information and other supporting documents.
The Sale Deed is one of the key documents used to establish the transfer and ownership of a property.
Since the house is being offered as security for the mortgage loan, the lender may need to verify the Sale Deed and related ownership information.
The Parent Document provides information about the previous ownership or historical transfer of the property.
It can help establish the chain of ownership and support the verification of the property's title.
Applicants should ensure that the relevant parent documents are available and properly maintained.
An Encumbrance Certificate (EC) is an important property document used to check registered transactions and certain encumbrances associated with a property for the relevant period.
The EC can help in the verification process by providing information about registered transactions relating to the property.
The approved or applicable Building Plan with Key Plan may be required for property verification.
The building plan provides information about the structure and layout of the property, while the key plan helps identify its location.
A Building Valuation Certificate provides an assessment of the value of the building.
Property valuation can be an important part of determining the suitability of a property as security and assessing the loan amount that may be considered.
When applying for a mortgage loan, ownership documentation needs to be clear and consistent.
For example, details in the Sale Deed, Patta, Parent Document and Encumbrance Certificate should be reviewed carefully. Differences in names, property descriptions, survey details or other important information may require clarification before the application can proceed.
It is therefore useful to review your property documents before submitting a mortgage loan application.
A little preparation can make the documentation process easier.
Maintain the original property documents in a secure place. Keep clear copies ready for submission whenever required.
Compare the applicant's name and property details across the available documents. Any significant discrepancy should be clarified.
Ensure that the EC available for the property is appropriate for the period required for verification.
Income-related documentation should be current and sufficient to demonstrate repayment capacity.
Keep documents such as the Sale Deed, Parent Document, Patta, EC, tax records, building plan and valuation-related documents together for easy access.
Yes. Missing or incomplete documentation can result in additional verification or requests for supporting documents.
This does not necessarily mean that an application will be rejected. However, providing the required documents correctly at the beginning can make the verification process more efficient.
If you are unsure about a particular document, it is better to confirm the requirement with the lending institution before submitting your application.
Apart from documents, the lender may assess several aspects of the application, including:
The final loan amount and approval are subject to the applicable rules, eligibility criteria and assessment by the lending institution.
CACHS provides mortgage loans against houses, with the loan amount depending on the location of the property and applicable conditions.
The current loan information published by CACHS lists maximum loan amounts of:
CACHS also states that interest is calculated on monthly rests and lists benefits including stamp duty exemption for executing the mortgage deed, no hidden service charges and the facility to credit excess payment towards the principal for the month, subject to applicable terms.
Applicants should always confirm the latest loan limits, eligibility conditions, documentation requirements and other terms directly with CACHS before applying.
Before approaching the lending institution, homeowners can organise the following documents based on the requirements listed by CACHS:
The actual documents required may depend on the applicant, property and applicable loan conditions. Always verify the latest checklist with CACHS before submission.
Preparing the right documentation is an important step when applying for a mortgage loan against a house. Property ownership documents, income details, identification records, tax documents and valuation-related records all play a role in the verification process.
For homeowners in Chennai, organising documents such as the Sale Deed, Parent Document, Patta, Encumbrance Certificate, Building Plan and Building Valuation Certificate before starting the application can make the process more organised.
If you are considering a mortgage loan through CACHS, review the latest requirements and loan conditions before applying. You can also refer to the CACHS Mortgage Loan page for current information about loan limits, documentation and other applicable terms.
CHENNAI ANNA NAGAR CO-OPERATIVE HOUSING SOCIETY LTD is a Multi-State Co-operative society registered with Ministry of Agriculture, Department of Co-operation by registration number MSCS/CR/1219.
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Anna Nagar, Chennai -40
Call Us
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