Buying property can be challenging—especially when complexities like joint slabs, poor credit histories, and location issues come into play. At Lendly, we specialize in overcoming exactly these types of obstacles. Here’s how we successfully helped Hemalatha, an NRI from Vijayawada, secure financing for her dream properties in record time.
The Challenge: Joint Slabs, Road Widening & Poor Credit
Hemalatha aimed to finance two properties connected by a joint slab, requiring ₹1.7 crore. But several major hurdles stood in her way:
- Joint Slab Properties: Typically harder to finance due to structural complexities.
- Road Widening Impact: The approved construction plan included a road-widening project that slightly impacted the property structure.
- Poor Credit History: Hemalatha’s parents had severely damaged credit scores, negatively affecting loan eligibility.
- Gram Panchayat Location: Lower valuation due to the property’s location in a Gram Panchayat area.
- No Credit History: Hemalatha herself had no prior credit history.
- Previous Rejections: Multiple banks and NBFCs had already rejected the loan application.
The Lendly Advantage: Strategic Negotiation & Innovative Problem-Solving
Lendly stepped in and provided a tailored, strategic approach:
- Expert NBFC Identification: Chose an NBFC experienced in funding NRI and joint slab properties.
- Negotiation Mastery: Secured favorable terms on both loan amount and interest rate.
- Credit Solution: Strategically proposed Hemalatha’s brother as GPA and co-applicant, bypassing the negative credit history of her parents.
- Valuation Strategy: Collaborated closely with NBFC engineers, convincing them to exclude the area impacted by road widening from their valuation, preserving the property’s value.
- Valuation Enhancement: Guided Hemalatha to increase property registration valuation and supplement it with a works agreement, effectively meeting lender criteria.
- Credit History Advantage: Successfully positioned Hemalatha’s lack of credit history as an asset rather than a liability.
Outcome: Fast, Efficient Loan Approval
Thanks to Lendly’s proactive approach, Hemalatha received a loan approval of ₹1.65 crore in just 25 days—a remarkable improvement over the typical timeline of 2-3 months.
Why Choose Lendly?
Complex financial scenarios require expert solutions. At Lendly, we combine deep market knowledge, creative strategies, and expert negotiation skills to deliver fast, reliable results—even in challenging cases.
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