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Mortgage advice & Valuation of Real Property
What is the primary purpose of mortgage advice in retail banking?
Mortgage advice helps customers select suitable home loan products aligned with their financial situation, repayment capacity, and long-term goals, ensuring informed borrowing decisions.
What is a 'registered mortgage' and how does it differ from an equitable mortgage?
Registered mortgage requires registration under Registration Act; equitable does not.
Which RBI guideline governs fair practice in mortgage lending by banks?
RBI's Fair Practices Code for Lenders mandates transparency in loan terms, interest rates, charges, and grievance redressal for all mortgage lending activities by banks and NBFCs.
What is the maximum LTV ratio prescribed by RBI for housing loans up to Rs. 30 lakh?
RBI prescribes maximum LTV of 90% for housing loans up to Rs. 30 lakh.
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