Loan against property is nothing but a loan which you avail by keeping your commercial/residential property as a collateral. The security in this kind of loan is the property owned by the person who applies for the loan. A loan against property (LAP) is a loan given or disbursed against the mortgage of property. The loan is given as a certain percentage of the property's market value, usually around 40 per cent to 60 per cent. Such loans can be availed by keeping your commercial/residential property as a collateral.