My dad has taken a home loan for rennovation of our existing home from Union Bank of India (UBI) around 3 years ago with a tenure of around 15 yrs. I was the co-applicant for the loan. The total loan taken was around 13 lakhs out of which we've repaid the principal of 8.5 lakhs (5 lakhs and 3.5 lakhs in two installments).
Q1: Can I take a top-up of the existing loan and use it for a purchase of a car? Q2: If I want to buy another home, can I take another loan and club it with the current loan? Or is there any better solution?