DO NOT LAMINATE DOCUMENTS IF YOU INTEND TO MORTGAGE THEM FOR BANK LOAN
CAUTION : Laminating Property Documents & Other Certificates
Most of us are tempted to get the documents laminated so as to preserve them.
"We had our property documents laminated for their safe keeping. This was years ago.
Recently we tried for a bank loan by mortgaging the property docs. At the final stage of verification of original documents, the Bank Lawyer flatly refused even to look at the documents saying that they are laminated. The reason being that, since they are laminated, the original documents cannot be differentiated from the colour photocopies. Appears, it was a hard learned truth as the Bank was duped by the colour photocopies of the original documents, duly laminated and presented.
We were asked to get the documents de-laminated ! else forget the loan
We have a lesson here. Pl do not laminate the original property documents. The Banks will not touch them. No loans can be taken on them. Even the buyers would hesitate at the time of sales. Further, Please be careful while receiving such laminated documents in a transaction. Whilst browsing, I have also come across where the people have run into Visa problems while submitting the laminated mark sheets, degree certificates."
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