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View Full Version : Second mortgage on home loan - clarification - reg.



vishalbalaji
10-05-2012, 08:25 PM
sir,

i have been sanctioned HBA for house construction and subsequently i have also applied for second mortgage with HDFC to meet out the balance amount with the permission of head of the dept. the deduction of principal on HBA and EMI deduction on loan availed with HDFC is being made through my pay and allowances. My question is that now i have applied a top-up loan with HDFC to renovation of my house since the house has 7 years of old and it is to be repainted and other works to be undertaken. My application for top-up loan has been accepted my HDFC and sanctioned me Rs.150000/- as top-up loan. but they advised me to submit No objection certificate from the head of the dept to release the sanctioned amount. please clarify that the rule provisions under HBA allows me to get NOC from the head of dept., if so, please inform the rule provisions and if not, please describe reasons for that. I request any one of the expert from the forum to clarify my question. please reply to my query.