21 August 2011
The United Housing Loans Scheme
The United Housing Loans Scheme is one such company that offers home loans along with insurance cover to the borrowers of home loans. This company has a coverage for many aspects. The borrower can take insurance cover for property under construction as well as ready possession of the flat. One good point is that the customers can avail a home loan on property where the flat is not ready and is under construction in which case they cannot avail a mortgage loan.
United Bank of India is one of the nationalized banks that has many branches and served the public for many years. This bank also has good offers for borrowers who wish to take home loans. As basic criteria for eligibility they have the minimum age of 21 for any borrower to apply for home loan. The United bank offers loans for various purposes like purchase of land and house just like any other bank. The important mention here is that they offer loans for houses that are up to 35 years old, this is an important aspect for the customer who wishes to purchase a flat in an old building. Many banks would give loans for new flats and those under construction.
The United Bank of India also has facility for take over of other existing loans, so they have the procedure and infrastructure available for the borrowers to shift their previous home loans to a better offer. The loans for renovation and extension of existing property is also given by the bank if the borrower fits their eligibility criteria, which is they have the repayment capacity. They also promise that there will be no penalty charges or prepayment fees, for early closure of home loan.
The details can be discussed before selecting any bank regarding home loans as every lending institution has customer care service available and most banks have online support for the same.