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