A home loan taken for a property without possession typically involves three overlapping legal relationships. There is the buyer’s contract with the builder; there is the loan agreement between the borrower and the bank or housing finance company; and where project-specific loans are used to finance the construction, there is sometimes a tripartite agreement between builder, lender and borrower. If the builder breaches the contract by delaying possession, this does not absolve the borrower from his duty to repay the Banking Recovery & Loan Settlement or temporarily suspend his obligation to make EMI payments to the lender.