Industrial property purchase loan
As the name suggests, Industrial property purchase loan is taken to buy a new industrial unit or arranging funds by mortgaging the existing industrial property. Industrial property loan is provided to cater to all self employed non professional customers who are running a manufacturing facility and offering industrial property as collateral. Most of the financial institutions are reserved to offer loan against industrial property. The amount of loan is decided by financial institutions on the basis of income of the customer and the purchase value as well as market value of the property. The property to be purchased should legally and technically be acceptable for the purpose of creating mortgage.The most important factors while calculating the loan amount in an Industrial Property purchase loan are Loan to Value (LTV) ratio and income eligibility. Interest rate on an Industrial property purchase loan is generally higher than all other secured loans.