Let your property work for you; let it support to upgrade your life, business or investments for your future. Seylan Loan Against Property (LAP) is a tailor made loan available for salaried employees against the mortgage over his/her residential property and repayment backed the salary assignment.
Repayment
Eligibility
Tenure (fixed) | Special Rate for Permanent employees with Salary Assignment (Salary above LKR 300,000/-) (%) | Special Rate for Permanent employees with Salary Assignment ( Salary up to LKR 299,999/-) (%) |
---|---|---|
01 year | 8.0000 | 8.5000 |
02 years | 8.5000 | 9.0000 |
05 years | 9.2500 | 9.7500 |
10 years | 11.0000 | 11.5000 |
Loan Against Property (LAP) Charges | ||
---|---|---|
Processing Fee | 0.5% of Loan Amount Minimum LKR 15,000/- to Maximum LKR 100,000/- | |
Mortgage Bond | Loan Amount | |
Up to LKR 5,000,000/- | 1% of Loan amount -, Minimum LKR 5,000 | |
LKR 5,000,000 up to LKR 25,000,000 LKR 5,000,000 LKR 5,000,001 up to LKR 25,000,000 |
LKR 50,000 LKR 50,000 + 0.5% on the remaining balance |
|
Above LKR 25,0Mio LKR 25,000,000/- LKR 25,000,0001 and above |
LKR 150,000/- LKR 150,000/-+ 0.25% |
|
VAT | Mortgage Charges x 8% | |
Mortgage Bond Total = Mortgage Charges + VAT | ||
Valuation Fee | Depends on Valuation + Travelling Charges e.g. If Loan Amount = LKR 2,000,000/-,Valuation Fee = LKR 2,000/- + travelling charges | |
Title Search Charges | As applicable by the respective lawyers who are outsourced and employed by the bank | |
Stamp Duty | Purchase or Construction of a House - Below LKR 3,000,000/- | No Charges |
Purchase or Construction of a House - Above LKR 3,000,000/- | 0.1% of Loan Amount | |
For Transfer deeds - Up to LKR 100,000/- | 3.0% of Transfer deed value | |
For Transfer deeds - Above LKR 100,000/- | 4.0%of Transfer deed value | |
Insurance Policies | Title Insurance Policy | On evaluation requirement. |
Mortgage Policy | Mandatory | |
Fire Insurance | As per valuation |