In this mortgage, mortgagor keeps the possession with himself. In this mortgage possession never with mortgagee  otherwise it is always with the mortgagor. The mortgagor is bind to repay the loan amount within the time if it does not happen then mortgagee has rights to sell the property and earn their money back.

In this mortgage, mortgagor  deposit the original title deed of the property to the mortgagee as security and against this mortgagee gives loan to the mortgagor.

Normally in this kind of mortgage, mortgagor sells the property to the mortgagee if in case mortgager fails to pay within time and period and if the mortgagor repay the payment mortgagee within the time then this mortgage does not have any value but there is need to remove the other rights from 7/12 extract

In this mortgage, mortgagor agrees to give the possession to mortgagee until the repayment of the mortgage amount. Mortgagor allows them to receive the profit earned from mortgage property.

In this, the mortgagor ready to repay the loan or mortgage money by a certain date and time and then transfer the property to the mortgagee again. The mortgagee also  agrees to retransfer the property back to the mortgagor once they have paid the loan or mortgage money as per the terms and conditions.

In a simple mortgage, there is a 0.5 % stamp and 1 % registration fee. And in case deposit of title deed, there is a 0.2 % stamp and 1000/- Rs registration fee.

1.The name, address and age of both the parties with Pan Number

2.The Loan amount and its interest rate in percentage.

3.EMI amount for the loan.

4.The First date of EMI.

4.A/C Number  and Bank name from which EMI will be deducted.

5.Total Number of monthly installment.

6. write the Property schedule very neat and clear.

7.Mortgagor and Mortgagee sign and photograph with the fingerprint.

8.Two witnesses etc .and many more points included as per need.

Its  equated monthly installment(EMI) is a fixed payment amount will be deducted from loan borrower account to lender account which includes the interest and principal amount.

Lender  is Mortgagee

Borrower is Mortgagor

Collateral is nothing but borrowers property against that lender give the mortgage/loan to party.

A Sanction letter is issued by the Bank/NBFC to the applicant of the loan. The sanction letter is nothing but the proof of an applicant is eligible for a specific amount of loan from the lender. It also includes the Terms and Conditions from the lender to the borrower.

Memorandum of the deposit is a document showing an agreement with a bank when shares and other investments like gold are left as security for a loan. It gives details about the bank's right to these investments if the loan is not repaid

Loan disbursement is the final step of the loan process in which check of loan amount handover to borrower or loan amount get a transfer into the borrower's account.

For personal loans disbursements, time is 48 hours after submitting all required documents, But for home loans, the sanction time is five working days and for disbursement, it will take another two working days.

Top-Up Loan Meaning is a facility provided by banks or housing finance companies and other financial institutions that allows you to borrow a specific amount of money over and above your home loan.

Filing of notice of intimation:

This is the e-filing process of equitable mortgage. This mortgage needs to submit in sub-registrar office. When we make the mortgage by this way after the mortgage date within 30 days it is mandatory to submit in sub-registrar office. This mortgage deed we called it as mortgage by deposit of title deed. Stamp and registration for this deed should be pay according to Article 6 of Mumbai Stamp act 1958. For this deed submission of notice is important. Stamp duty is about 0.2 % and registration fee Rs.1000/-

Its mortgage has done or undertaken by one person.

Its mortgage has done or undertaken by two-person.