Thread: Pre closure out of assets financing from inside the Asia off overseas

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Pre closing regarding property financing during the Asia regarding overseas

We have a property mortgage into the Asia and you may already I am for the You and that i need to pre close the mortgage out-of abroad.

Once i enquired the bank, they told you I can preclose(on preclosure charge etc. ) nevertheless they told you the house records cannot be handed over in order to the new Indian contact person and it may be handed over only if you ask me.

However, There isn’t people plan to visit to India today. If that is the actual situation, they told you they can’t secure the assets documents more than 1 times together. If at all if they have to store, we need to pay a lease to have locker which have a rent out of Rs 1500/- times.

I would like to see if or not one system more has been doing along these lines/almost every other bank costs locker rent in this way. Not sure if its ok to go away the latest data files towards the bank immediately after closing the loan.

Which lender can be your financial from in Asia – ICICI? In this case, all the best in dealing with them! You will want they. They will milk you of all of the your determination and make you wait. He’s got absolutely no wisdom and can stick to their “rules” come exactly what get. Ask them if the a general Energy out-of Attorney provided to good cousin in Asia often serve so they are able gather the initial data files. But once you understand all of them pretty much, I can make certain the solution would be “NO”.

In addition, if you are going to apply for a fresh mortgage or open a unique membership, they’ll sit upside-down within the a leg regarding S*%T for folks who ask them to!

A differnt one are fundamental chartered bank. All the best dealing with them. They are positively awful and you may impolite. They do not award their financing agreements assuming you question why you are charging pre-closure fee if contract states no-preclosure, they truly became extremely offensive.

I cannot wait to help you re-pay thier short balance and you will romantic which mortgage. New bad news is they was recharging cuatro percent pre-closure fee.

I recently enjoys build to collect this new data out-of HDFC as a consequence of my relative when you are are abroad. We offered an authorization page to get the documents and request letter to HDFC to produce the latest docs according to auth.letter. If you are handing over the brand new docs, they just made certain his ID matches towards the agreement letter label and you may grabbed a copy of the ID. This arrangement You will find worked out using them once cooking the new reason for their brains it is the customer that is getting grand chance while you are forking over new agreement letter. Which have repaid the loan, the financial institution does not have any providers to help you bother the customer in addition they found my conditions.

When they dont reach their conditions, question them new clause of your financing arrangement having handover from docs to conform to they. They can’t meet or exceed mortgage contract and you may influence new set from rules/punishment an such like…

The difficulty with Indian organizations is they hardly understand NRIs. The rules is same for owners and you will NRIs. The employees believes you to definitely also NRIs should make cycles of these to get the work complete. It simply irritates me personally. In every message board, I talk about the issue out-of how unfriendly the brand new solutions is actually oriented from the Indian institutions having NRIs.

Thank you so much Krivan! I can as well as correspond with the authorities so you can handover the brand new documents toward signed up person. Let’s see just what they state

I have a comparable experience in ICICI. My mortgage is preclosed and i merely approved an expert page into the bank into members of the family term facts (passport amount and you may Bowl cards number). They cheerfully paid the fresh documents so you’re able to him.

I will be at stake if you try to work with the bank to locate an amendment in place of earlier education otherwise feel.The following is some tips Loan mod Advice

We preclosed web site loan with ICICI and you may car loan with Standardcharted just before coming to All of us. They are both similarly bad. To have my personal site mortgage, I happened to be informed that preclosure fees was six% (in reality its cuatro% as well as attempted cheating saying that the higher to have blank house) Illinois loans. We bargained and additionally they were not ready to get smaller less than 4% (According to the agreement that i signed the dos% and lender claims it could be increased at any time). Fundamentally I mentioned that I shall avoid the EMI and you will lets find it inside the users legal. Chances are they appeared right down to 2%. Bottom line is struggle with all of them if you need an effective lower price and hazard all of them that people will go so you’re able to people judge or complain so you’re able to Banking Ombudsman.

We pre-closed few fund. one is having HDFC. its done satisfaction to deal with them. Merely purchased a seek out the fresh a great harmony to my loan taken to HDFC. Delivered a special email address inquiring these to courier the newest docs from the my personal property address. Thats they. overnight my some body obtained the docs in the possessions. Next you’re that have HSBC. He’s an extremely extended and you will challenging techniques. even in the event my personal mortgage try signed, still the docs was together. I have to assemble once i go to India.