For many people, property development is viewed as a series of individual projects. A developer buys a site, secures finance, builds the scheme, sells the completed units and then starts looking for the next opportunity.

Securing development finance is often one of the biggest challenges property developers face. While many developers focus on loan-to-value (LTV) or loan-to-Gross Development Value (LTGDV), another factor can significantly influence how much funding is available: additional property security.

For many property developers, securing development finance can sometimes feel like a mystery. You submit an application, provide your appraisal, answer a series of questions and then wait for a decision. But what actually happens behind the scenes?