Introducing GIX Verify: one standard for every loan file
Automated screening, sampling and CMA for banks, NBFCs and co-operative lenders, organised by loan product.
Read · 3 minFor home loans and loans against property, the property is the lender's security. A problem in the papers can leave the lender with no real security at all.
Common problems
- The owner on the land record or property card is not the applicant or seller.
- The registration details on the sale agreement do not match the state registration records.
- Gaps in the title chain, or a link in the chain that cannot be traced.
- The same property already mortgaged to another lender.
- A valuation far above recent registered sales in the same area.
Checks that help
| Document | What to verify | Where |
|---|---|---|
| Sale agreement and Index-II | Registration number, parties, date | State registration search |
| 7/12 extract or property card | Current owner, area, encumbrances | State land records |
| Existing charges | Any prior mortgage on the property | CERSAI search |
| Valuation report | Valuer empanelled, value in range | Lender panel and registered sales |
Many states now offer online search of registration and land records, so a large part of this can be checked at the desk, before anyone travels.