Housing Loan Restructuring Services from Mohan Finserv
Are you currently paying high-interest rates on your existing home loan or facing difficulty in managing multiple loans? Mohan Finserv offers home loan transfer services, also known as balance transfer, to help you switch your loan from your current lender to us. By transferring your loan, you can take advantage of lower interest rates, better loan terms, and more favorable repayment options.
Loan Transfer Process and Procedure
Initial Consultation and Eligibility Check:
The first step is to consult with our experts to understand your current loan situation and goals. We assess your eligibility for loan transfer based on your existing loan balance, credit score, repayment history, and income. Our team will help you understand if transferring your loan will benefit you financially.
Application Submission:
Once we’ve determined that you qualify for a loan transfer, we’ll guide you through the application process. You will need to submit relevant documents such as a copy of your current home loan agreement, property documents, identity proof, address proof, and recent bank statements.
Loan Comparison and Transfer Calculation:
We will compare the current interest rate and terms with the loan options we offer, ensuring you get the most favorable deal. Mohan Finserv will also assess any outstanding charges, penalties, or fees associated with transferring your loan to calculate the potential savings.
Approval Process and Sanction Letter:
After reviewing your application and documentation, Mohan Finserv will issue a sanction letter, detailing the new loan amount, reduced interest rates, tenure, and revised repayment schedule. This letter confirms that your loan transfer has been approved.
Settlement of Existing Loan:
Upon receiving your sanction letter, we initiate the process of settling your existing loan with your current lender. This includes clearing any pending dues and closing the previous loan account. Our team will handle the entire settlement process to ensure there are no complications.
New Loan Agreement and Signing:
After the loan settlement, you will sign the new loan agreement with Mohan Finserv, which includes the updated terms, repayment schedule, and interest rate. This legally binding agreement will formalize the transfer and ensure smooth continuation of your loan.
Disbursement of Funds and Finalizing the Transfer:
Once the agreement is signed, Mohan Finserv will disburse the loan amount to settle the existing loan and complete the transfer process. From this point onward, your loan will be with Mohan Finserv, and you will begin repaying as per the new loan terms.
Why Choose Mohan Finserv for Loan Transfer?
Attractive Interest Rates:
We offer competitive and lower interest rates, helping you save money on your monthly EMI.
Hassle-Free Process:
Our team manages the entire loan transfer process for you, including settlement with your current lender, document verification, and disbursement.
Customizable Repayment Plans:
Enjoy flexible repayment options, allowing you to select a tenure that suits your financial situation and make your loan more manageable.
Expert Guidance:
Our team of experts will guide you at every step, ensuring a smooth transition and helping you make informed decisions about your loan transfer.
If you're looking to reduce your interest burden and improve your loan terms, Mohan Finserv is here to help you transfer your home loan in Chennai.
With our fast, efficient, and expert-driven service, you can secure better terms and enjoy a more affordable and manageable repayment plan. Let us help you save on your home loan and take control of your finances.