Loan Against Property In India: A Brief Overview

A loan against property in India is not very common. In fact, the concept of loan against your home is taboo in most Indian communities. However, the fact remains, that property is a valuable asset and you can certainly use it to your advantage instead of opting for a humongous and unaffordable personal loan or a credit card debt. Thus, here is what you need to know about the loan against property in India .

What is a loan against property (LAP)?

This is a secure loan against an asset, pretty much like any other loan against assets. The interest rates for a LAP are lower than for unsecured loans like personal loans. The primary eligibility criterion is the value of the asset rather than the repayment ability or credit score. So, thisis much easier to avail for people, who are financially challenged at the moment.

What are the consideration factors for loan against property in India?

You will need to complete the standard loan application process with the required documents. You will also need to meet the eligibility criteria of the lending company. Nonetheless, when you apply for a loan against property with a housing finance company or a bank, you must do so with due consideration to the following factors:

• You will need to give time to the lenders in order to process the market value of your property, which varies from 5 working days to 2-3 weeks, based on the lending organization.

• The loan amount depends on the third party analysis conducted by the housing finance company. You will receive approximately 80% to 85% of the market value of the property, which will be decided by the lender.

• You can negotiate for competitive interest rates on the loan against property, if you have the required documents to demonstrate good repayment ability and credibility.

Thus, you can also receive a higher loan amount at lower interest rates by opting for loan against property. Additionally, you can enjoy more relaxed repayments as the monthly EMIs will be lower.

When is the right time to apply for loan against property?

In one sentence, when the loan amount is much higher than you can easily borrow. It is not advisable to risk your property unless there is no other choice available. If you can take a loan against shares, fixed deposits, gold or luxury items, you should. The cost of property is the highest among the several assets for most individuals. So, take a rough estimate of the market value of the property and if it is approximately the amount you need, then apply for loan against property. If you have other assets available, do include them in your consideration.

Common Reason and Solution for Google Drive File Stream Not Working

Hello All! Today we are going to discuss a frequent issue in Google Service – “Google Drive File Stream Not Working”, where one can struggle with smooth file streaming. Google Drive File Stream is a desktop utility provided by Google Drive, that can stores data online, to allow sync with the file system to access the data offline. Let us understand this issue in detail.

Problems in Google Drive File Stream

Here are some of the common problems listed below which are encountered by users:

No Synchronization of files between System Drive and Google Drive.
Sync Process got to hang and showing the message “Preparing For Sync” for a long time.
When the user tries to edit the file but in reality, it is not modified.
Getting Sync Failure messages such as “Authorization Failure: No longer permitted to view the file.”
Common Reason Behind Drive File Stream Encountered Problem and Has Stopped

There is a list of reasons for this error. Go through them below:

Damaged Cached Files or Folder.
The storage of Google Drive is full.
No Internet connection is available.
Clash of Other Google Cloud Services.
What to do If Google Drive File Stream Not Working?

We have a few manual ways which can help you to resolve the problem related to the “drive file stream encountered a problem and has stopped.” You can try one after the other until your issue is fixed.

Try Checking and Modifying Network Connectivity to VPN

For proper file streaming, the network connection must be clear and speedy. So, try checking the present internet connection and its settings. As ISPs are suspected of blocking certain services of applications, it is suggested to shift the internet connection from ISPs to VPN permanently for Google Drive file streaming.

Try Renaming the Google Drive File Stream Folder

The outdated or corrupted cache may be a reason for the difficulty in Google Drive file streaming. So, it must be either deleted or renamed.

Here are the straightforward steps to rename the Google Drive File Stream Cached Folder.

Start from terminating the running Google Drive file stream application.
Run Command Prompt as an administrator.
Execute the following command.

%USERPROFILE%AppDataLocalGoogle

Now, look out for the folder and rename it with any name.
Reboot the system once and begin the Google Drive file stream application again.
This time the streaming may work fine.

Try disabling other Instances of Google Cloud Services

Try disabling Google Backup & Sync if it is running. To disable the running Google Backup & Sync application, users can run the Task Manager on their systems, select the program, and click on the End Process option to close the application securely. Then start Google Drive File Stream and check if the synchronization goes well or not.

Try Saving Google Drive File Stream files Offline

To access and download the Google Drive folder offline, execute these steps.

Open the File Explorer window on your system.
Move to the left panel and click on on the Google Drive File Stream (G) drive to open it.
Double-click on any Drive from the proper panel to open it.
Next, the folders or files will get retrieved from the chosen Drive. Select one or multiple files/folders, right-click, and follow Drive File Stream>Available Offline.
Proceed to download the chosen files on your system.

Here we’ve explained multiple methods to repair the “Google Drive File Stream Not Working” issue.

We have a professional way to backup Google Drive data to the system permanently. Users can use the Gmail Email Backup to backup and download Gmail Emails to their PC or an External Hard Drive. It is the best tool to backup Google Drive contents to the required system drive location.

A Complete Guide To Understanding Home Loan Interest Rates

Home loan rates can be a complicated plateau to manoeuvre through. There are, however, a few major factors that do stand out. This guide should help you to screen through the major sections that need to be kept in mind about this subject:

Types of interests

This section may seem basic; however, it’s not. There are three types, obviously. Yet, you need to know some of the important aspects that may affect your EMIs and the repayment structure in the long run.

• Fixed rates: These rates are higher and so are the hikes after the first few years. So, you should know when your interest rates will elevate again. If you opt for fixed interest rates, you should aim to increase your earnings accordingly.

• Floating rates: These are vulnerable to economic fluctuations. They can work in your favour if they lower over a certain period of time, though you must know that the tenure for home loan repayments stretches from 20 to 30 years. Unless you earn a significant income over the course of the years to pre-pay the loan, you will be paying EMIs for that duration and may also face unexpected recession and interest rates hike twice or thrice in that period.

• Hybrid rates: These rates combine the best of fixed and floating. You make two home loan agreements that divide your home loan into two types of interest rates and repayment plans. Though it seems like the best of both worlds, you need to understand that it can backfire too. You need to read the home loan agreement papers and the fine print carefully and protect yourself against any backfires.

The factors that influence your home loan interest rates:

All applicants may not be able to get the advertised rates. Very few people, in truth, are in a position to avail the best home loan rates in India. Although you can influence home loan proposals to get the best possible interest rates for your housing loan. So, what are these factors?

• CIBIL credit score
• Repayment ability
• Company appraisals
• Employer
• Annual earnings – income, assets and liabilities
• Any other loans
• Your interest rates negotiations

There are always more factors that can come into play, depending on how you choose your house loan package. So, it makes sense to make an effort to mould all these factors in your favour. It is not always possible to transform them all; yet, if you take an expert’s advice and use it to your advantage, you can potentially get much lower housing loan interest rates in India .