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What are the Bank Mortgage charges

Nilesh Darekar

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2022-03-07T11:51:43+00:00 2022-03-07T11:51:46+00:00

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Kritika

0 2022-03-14T10:11:37+00:00 March 14, 2022

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As far as I understand it, Bank Mortgage Charges or MODT charges are levied when you take a loan by mortgaging an asset. In such a case, a deed is made declaring the same which is registered with the SRO. The charges paid in this process are bank mortgage charges. They can vary from 0.5% - 1% of the loan amount.

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