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Glossary > M > "Mortgage" Definition

Mortgage

A loan secured by the collateral of some specified real estate property which obliges the borrower to make a predetermined series of payments.

A loan, secured by the collateral of some specified real estate property, in which the borrower is obligated to make a predetermined set of payments to repay the loan.

A loan used to buy your house, where your house is used as security until you"ve paid off the loan (usually after a fixed period). There are three main types of mortgage:

A repayment mortgage - you pay off the loan by instalments of capital and interest so that after the agreed period you have paid off all the loan
An interest only mortgage - you pay only interest on your mortgage and make other arrangements to repay the capital, like an endowment policy.
A flexible mortgage allows you to make overpayments and take payment holidays.

A loan in which the borrower (the mortgagor) offers a property and land as security to the lender (the mortgagee) until the loan is repaid. Repayments of the loan are usually made on a monthly basis over a long period of time, typically 25 years. In the UK, the most common forms of mortgage are the repayment mortgage and the interest only mortgage.

Mortgage

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Mortgage - A loan secured by the collateral of some specified real estate property which obliges the borrower to make a predetermined series of payments.

A loan, secured by the collateral of some specified real estate property, in which the borrower is obligated to make a predetermined set of payments to repay the loan.

A loan used to buy your house, where your house is used as security until you"ve paid off the loan (usually after a fixed period). There are three main types of mortgage:

A repayment mortgage - you pay off the loan by instalments of capital and interest so that after the agreed period you have paid off all the loan
An interest only mortgage - you pay only interest on your mortgage and make other arrangements to repay the capital, like an endowment policy.
A flexible mortgage allows you to make overpayments and take payment holidays.

A loan in which the borrower (the mortgagor) offers a property and land as security to the lender (the mortgagee) until the loan is repaid. Repayments of the loan are usually made on a monthly basis over a long period of time, typically 25 years. In the UK, the most common forms of mortgage are the repayment mortgage and the interest only mortgage.

Mortgage : a loan secured by the collateral of some specified real estate property which obliges the borrower to make a predetermined series of payments.

a loan, secured by the collateral of some specified real estate property, in which the borrower is obligated to make a predetermined set of payments to repay the loan.

a loan used to buy your house, where your house is used as security until you"ve paid off the loan (usually after a fixed period). there are three main types of mortgage:

a repayment mortgage - you pay off the loan by instalments of capital and interest so that after the agreed period you have paid off all the loan
an interest only mortgage - you pay only interest on your mortgage and make other arrangements to repay the capital, like an endowment policy.
a flexible mortgage allows you to make overpayments and take payment holidays.

a loan in which the borrower (the mortgagor) offers a property and land as security to the lender (the mortgagee) until the loan is repaid. repayments of the loan are usually made on a monthly basis over a long period of time, typically 25 years. in the uk, the most common forms of mortgage are the repayment mortgage and the interest only mortgage.