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Home Loan Balance Transfer List Of Documents For Self-Employed- Partnership Firm

June 17, 2020 by admin

The list of documents required by self-employed in partnership firm for doing home loan balance transfer is as follows:-

Checklist for Loan Sanction

KYC

1) Pan card copy of all partners.

2) Company pan card copy along with stamp & director signature.

3) Copy of residence proof (passport/electricity bill & Aadhaar card copy).

4) Copy of office proof (electricity bill/telephone bill) of partnership firm.

Financial Documents

1) 3 years latest financials of the applicant including Saral Copy, computation of income, Balance Sheet, P&L account, Capital Account – CA certified with membership no.

2) 3 years latest financials of all partners including saral copy, computation of income, Balance Sheet, P&L account, Capital Account – CA certified with membership no.

3) Latest 12 months bank account statement of all partners.

4) Latest 18 months all current account statements of the partnership firm.

5) Latest 3 years Form no-26 AS.

6) Latest 1 year Copy of GST returns – 3B form.

7) Tax Audit Report (Form 3CB & 3CD) (42 Points).

8) Additional documents for the partnership firm – copy of Debtors & Creditors aging for 1 Year – if case is booked under banking product.

9) For rental income receivable- if any:

            a) Copy of registered rental agreement.

            b) Latest 1 year bank account statement reflecting the rental credit.

Other Documents

1) True certified copy of partnership deed.

2) Business/company profile on the letter head of the company.

3) Business proof – GST registration, Ghumastha or Copy of Aadhar Udoyg.

4) Copy of contract letter if received any contracts.

5) If applicant partner is:
a) Chartered Account (CA) – Copy of COP & passing certificate.

b) Doctor – Copy of Degree Certificate.

6) Details of all existing loan along with the sanction letters (for calculating loan obligation) of the applicant.

7) Details of all existing loan along with the sanction letters (for calculating loan obligation) of the partnership firm.

8) Transfer Documents:

            a) LOD (list of documents) from the existing loan bank.

            b) 12/18 months repayment track records.

            c) Outstanding letter copy from the existing loan bank.

9) Processing fees cheque in favour of bank/NBFC.

10) Bank form duly signed by applicant and co-applicant/partner/company.

Checklist for Legal &Technical Process of the property

1) Copy of Prior chain of agreements.

2) Copy of Index 2.

3) Copy of latest month property tax receipt.

4) OC/CC + approved Plan copy.

5) Copy of Share certificate.

6) Copy of society registration. 

7) LOD copy.

Checklist for Disbursement Process

1) Original prior chain of agreement with stamp duty & registration duly paid & along with the copy of index 2.

2) Copy of Occupation Certificate.

3) Original share certificate (If Issued).

4) Property tax receipt copy of latest month.

5) Society registration copy.

6) Docket kit duly franked and signed by all applicants.

7) Copy of BT draft agreement duly franked and notarized and signed by all applicants.

8) 7- Security cheque in favour of Bank.

9) Administration Fess –clearance by cheque or DD-demand draft.

10) Facility agreement duly franked and signed by all applicants.

11) NOC from Builder.

12) NOC from society with chairmen and secretary signature.

13) Original copy of LOD & Outstanding letter.

14) For CIDCO/MHADA Property:

            a) Copy of conveyance deed & Original NOC & transfer letter from CIDICO/ MHADA if    conveyance deed is executed.

            b) Copy of tri-party agreement & lease agreement – if conveyance deed is not executed.

15) Any other documents as per:

            a) Credit Manager’s requirement.

            b) Property Legal report.

            c) Sanction condition on sanction letter.

In a partnership firm, a partner with less than 51% of his stake in the company has to mandatorily include all other partners & partnership firm as a co-applicant on the loan application. Hence it is mandatory to obtain the financials of all partners as well as partnership firm for balance transferring his home loan.

If you are looking for housing loan guidance for your property purchase in Mumbai, visit Loanfasttrack on https://www.loanfasttrack.com/. Loanfasttrack provides you hassle free services at your doorsteps with comparative evaluations of more than 13+ top banks, with no additional cost. You can also contact us on 9321020476 or email on info@loanfasttrack.com. 

About Loanfasttrack– Loanfasttrack is a Mumbai based loan provider company since 2015 offering loan services in Mumbai on– housing loan in Mumbai, mortgage loan in Mumbai, personal loan in Mumbai, business Loan, unsecured business loans, home loan transfer, top-up loans, car loans, educational loans and loan transfers.

It also helps you:

√ To find the best bank for home loan

√ To get lowest home loan rates in Mumbai

√ To get an instant loan in Mumbai

√ To get instant personal loan in Mumbai & business loan in Mumbai

√ To make you qualify for the maximum loan against property eligibility

√ To get a low cost home loan balance transfer

√ To get assured low interest rates for loan against property in Mumbai

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