LOAN BALANCE TRANSFER REQUEST
Request date: __________
To proposed lender __________, __________.
Borrower: __________, __________..
Property: __________ (__________), __________. Stage: __________. Property value: __________.
EXISTING LOAN
Existing lender: __________. Loan: __________. Outstanding: __________. Rate type: __________. Current stated rate: __________%.
Reason: __________.
PAYOFF AND SECURITY
Foreclosure statement: __________. Original documents: __________. Release/takeover sequence: __________.
NEW REQUEST
New loan amount requested: __________. Top-up position: __________.
Please assess the takeover and provide your sanction, total cost/fees, payoff procedure and security/document-transfer requirements before any funds are released to the existing lender.
LEGAL BASIS
In Punjab the holder of a site allotted by a development authority cannot transfer any right in it without the authority's previous permission (section 43(7) of the Punjab Regional and Town Planning and Development Act, 1995), so a mortgage of such a site needs the authority's permission to mortgage, which it gives only to the allottee on its file. A mortgage by deposit of title deeds needs no registered deed, and a Punjab Non-Encumbrance Certificate cannot show it, which is why lenders also search the Central Registry of Securitisation Asset Reconstruction and Security Interest of India. When the old loan is repaid, the discharge or reconveyance of the mortgage and the removal of the charge from the Central Registry and the Sub-Registrar's records are the outgoing lender's steps to complete.
PERSONAL DATA NOTICE
This notice is given under the Digital Personal Data Protection Act, 2023.
Personal data in this document is collected only to apply for and administer the proposed balance transfer of the existing property loan, communicate about that purpose, verify expressly supplied lending and property information, and retain an evidentiary application record.
The record will be held by __________ and may be shared only with the applicant, co-applicant, lender or housing-finance company, authorised loan-processing agent, employer or income verifier, advocate, valuer, technical professional, insurer, registering authority, Central Registry/CERSAI-related service, or other person directly involved in the stated loan process.
If the request is withdrawn, declined or does not proceed, personal data will be retained for 90 days and then erased. If it proceeds, the record will be retained for the loan process plus 12 months, except where a statutory, regulatory or lender record-retention rule requires a longer named period.
A person named here may withdraw consent for future consent-based processing, request correction or erasure where the purpose has ended, or raise a grievance by writing to __________. The record-holder should acknowledge and respond within 30 days.
Data minimisation: this template does not require a full Aadhaar number, Aadhaar-card copy, passwords, PINs, OTPs or complete bank-login credentials. Only masked account/identity references genuinely required for the loan process should be inserted.
Personal-data instruction: __________.
Record-holder: __________
SIGNATURE
Borrower: __________