 "Mortgage guarantee makes home loans accessible but it comes at a cost")
Last week LIC Housing Finance (LICHF) tied up with India Mortgage Guarantee Corporation (IMGC) to offer longer-tenure loans. LICHF will now offer loans to older customers till the age of 75. With an enhanced tenure, borrowers will be able to take a higher loan amount, or may opt for a lower equated monthly instalment (EMI). All this becomes possible when a lender ties up with a mortgage guarantor.
What is mortgage guarantee?
Mortgage guarantee is a risk transfer tool. The risk of the home loan gets transferred from the bank/housing finance company to the mortgage guarantee company. “The house is
Mortgage guarantee is a risk transfer tool. The risk of the home loan gets transferred from the bank/housing finance company to the mortgage guarantee company. “The house is
