Loans Against Property (LAP) is a loan offered by banks or other lending institutions for business expansion or the bad time of financial crises. It is offered after mortgaging freehold property, both residential and commercial and better than personal loans or gold loans.
LAPs are, therefore, one of the most sought-after loans in India and are even more affordable today on account of the competition in the loans-disbursal market. Not just affordable, LAP are also very easy (or simple) to avail and repay. This is so because real-estate is mortgaged when you avail LAP and real-estate prices rarely dip which makes them much safer.