LIC HOUSING FINANCE
Delay in disbursement

My sister bought a flat in Malad and unfortunatetly they too approached LIC for loan. They faced similar issues. Their agent was Zaffar and Manoj. Looks like all the LIC staff are trained for false committments and not answering phone calls. It took around a month for them to get the initial sanction letter. Due to this the owner of the flat put a clause in the registration tht the final disbursement shld happen within 1.5 months else the agreement would be void. The due date is 30th Sept and till date we have not recieved the disbursemment from LIC. We have informed LIC on this and have been literaaly pleading our agents. Now the only thing we are doing is taking leaves frtom office and sitting in LIC office and following up on their work and getting them the docs and resolving their queries. Even Mohan Herlekar, the area manager is very irresponsible. He doesn't answer phone calls. His agents called us in office to meet Mohan and Mohan Irlekar was not in office. Imagine the plight of taking leave frm office and travelling from Parla to Thane and then realizing that the manager is not ppanning to come to office itself.

The documents are in fort disbursement offfice since end of sept. When we visited fort office, initially they did not allow us to meet any officials. But when we were adamant, they listened to our issue. TO our greatest shock we realized that they have misplaced our documents. It took them 2 hours to locate it. They mentioned that there are no more queries and disbursemtnt cheque would be released next day as concerned person was on leave. The same excuse was given next day. Now when the owners came up with the original documents, they wanted to personally visit the house of the owner etc... Every day they ahve a new execuse. Today is Oct 16th and still ahve no clue on why the disbursement is not happening.

Can someone please do some justice. Our onwers are going to charge heavy interest due to the delay. Why should we bear this due to the inefficeincy of LIC officials

I would not recommend LIC to any1. Very unprofessional and their agents misguide the customers by telling lies and giving false commitments

Company: LIC HOUSING FINANCE
Country: India

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