logo logo

What are the Collateral Securities which are taken by the Housing Finance Companies? 

HFCs may take some additional securities which are called collateral securities. These may be in the form of guarantee from one or two persons, assignment of life insurance policies, deposit of shares, and units or other securities. These additional securities are taken with the intention that if the amount borrowed is not paid back, and then recourse may be taken to such securities. Guarantors, when alerted, become very effective persons in prevailing upon the borrowers to fulfil their obligations. 


Can home loan be converted from fixed rate to floating rate & vice versa?  

When should one opt for a fixed rate home loan?

Can home loans be obtained against two different properties?

Whether banks and financial institutions lend money for purchase of land?

What are the charges other than interest that are levied by home loan lenders?

What is the role of a builder, promoter in group housing complex?

In multi-storied buildings maintenance charges is charged and frequently the word AMC is used.  Please explain the words?

Please clarify whether it is correct on the part of the association to collect more maintenance charges from tenants irrespective of it being paid by the owner or by the tenant himself.

I live in an apartment of 16 units (GF plus 3 floors).  I live on the third floor.  The owner living below me (second floor) has complained of leakages in his bathroom.  I did attempt some repairs (plastering) on my bathroom floors. This proved to be a temporary solution.  Now he is demanding replastering of my bathroom and refixing of tiles.  I insisted in this case the cost towards repair and materials to be shared mutually.  Am I justified in my argument? What does the rule say?

I would like to know on what basis the flat maintenance charges could be raised from the present amount? Our building is over six years old and has 65 flats. We recently completed painting the outside walls for which the corpus fund was used.  Being six years old, the water pumping motors for all the five blocks need replacement and also expenses are there for the OTA space closing, hard topping in the two wheeler parking area. Please advice.