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Mortgage is one of the biggest financial decision in your life, No Wonder you want to get it right.

THE PROCESS

At 4C, we follow a meticulously structured approach in facilitating your mortgage. To get the ball rolling, we strongly recommend that our clients should avail Pre Approval of Mortgage Finance before finalising their property. Our process is explained below in brief.

Please click on the steps for more information.



STEP 01

Understanding our Client's Need.

Free initial telephonic consultation where the Client interacts with the 4C Mortgage Advisor to discuss the finance requirement, client's existing financial position and expectations of mortgage.

The 4C Mortgage Advisor works on the information provided by the Client and advises on the possibility of obtaining required mortgage amount.

Costs involved and further processes are discussed in brief.

The Pre-Approval Documentation requirement is advised to the Client.
STEP 03

Submission of Pre Approval Documents to Bank/ Financial Institutions

- The Documentation provided by the client is reviewed by the 4C Mortgage Advisor for completeness. If any clarification is required, it is sought from the Client as this is very crucial to avoid subsequent delay at Bank's end.

- A nominal Pre Approval fee is collected at this stage which is adjusted against the final approval subsequently.
STEP 05

Client identifies the property through a real estate broker.

Before signing the property purchase MOU, we request you share the MOU draft with us to ensure you are adequately protected in reference to your mortgage finance commitments to the property seller. We also recommend that you should obtain the copies of property title deed, Sale Purchase Agreement, floor plan, tenancy contracts, etc. at this stage.
STEP 07

The final approval is reviewed jointly by 4C Mortgage Advisor and the Client before Client accepts the offer and signs the bank documentation.

STEP 09

After ensuring that all the documents are in order, the bank requests for the Developer NOC.

STEP 11

After Land Department transfer, the funds are released by bank to the seller.

STEP 04

Bank issues the Pre-Approval. This has a validity of 1 to 3 months.

Free initial telephonic consultation where the Client interacts with the 4C Mortgage Advisor to discuss the finance requirement, client's existing financial position and expectations of mortgage. The 4C Mortgage Advisor works
STEP 06

Bank conducts property evaluation and issues final approval.

STEP 08

The Client is advised of the medical test requirements, if any, for life insurance cover.

STEP 10

The bank initiates settlement of the Seller's Loan in case the seller has any mortgage outstanding. In case the property is self-financed by the Seller, the transfer of the property is scheduled by the bank at the Land Department.

Contact us for free Initial Consultation