POSTED BY July 25, 2012 11:29 pm COMMENTS (5)ON
I have recently booked an apartment and thereof applied for a home loan from SBI.
All the loan processing was being done via an agent who was referred by the builder so even my loan application was filled by the agent,i just mailed him the required details.
My builder gave the cost breakup sheet directly to the agent which had the wrong value of the total cost i.e if my house was actually costing 50 lacs it was quoted to be say 52 lacs.
So now my loan has been sanctioned but the application says the property value as 52 lacs instead of 50.
Now my question here is what could be the implications of this to me,i am yet to go for document verification at the bank and i have both the cost breakup letter with me the one which says 50 and the other which say 52.
One implication that i see is that my margin % would increase and that would lead to more contribution from my side as well as bank would also not release the entire loan sanctioned.Would that cause a problem?