Vijayawada | 08 Jul, 2022 (8 months, 3 weeks ago)

Property Law

2nd HBA loan through Non Banking Finance Company

I am working in PSU and availed 1st HBA loan of 30Lakhs from my organization under staff welfare. Now, my brother in law, working in in contract basis and wish to purchase a flat, which is not having Building Plan Approval for the Flat in Third floor. Hence, through builder he approached Non Banking Finance company(NBFC) for HBA loan of 20Lakhs. NBFC agent asked for co-applicant for HBA loan. My brother in law asked my help to be his co-applicant and it's EMI will be paid by his earnings and with the help of his retired grandparents. After perusal of my basic documents, the NBFC is advising to take loan in my name as a single applicant. Here, i don't want to be a single applicant and my query is (1) Being a PSU employee and 1st HBA is not paid fully so far, shall I take 2nd HBA?. (2) Is it appropriate legally to take 2nd loan in my name and the EMI will be paid by brother in law and his Retd. Grandparents? (3).Is there any other options to help my brother in law please.
10 Jul, 2022 | 18:16

You may contact us for free advice

Komal Tyagi Advocate
Criminal & Civil Lawyer

Founder- Justice In You

08 Jul, 2022 | 19:51

Dear client
As per your submission it reveals that this is a matter of loan transaction
Give me details information about the matter then we will discuss your case
You can call me for the advise on


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