- 1The charging of real (or personal) property by a debtor to a creditor as security for a debt (especially one incurred by the purchase of the property), on the condition that it shall be returned on payment of the debt within a certain period.More example sentences
- If you have personal debt, such as a line of credit used for investment purchases, consider converting this debt into a personal mortgage on real estate.
- Thus, in Forster, the defendant solicitors were instructed to advise the plaintiff about executing a mortgage which charged her freehold property as security for a loan made to her son.
- The Plaintiffs separately claim the debt incurred with the mortgages on the property.
- 1.1A deed effecting the conditions of a mortgage.More example sentences
- The piece of paper that documents this pledge is usually called a mortgage or a deed of trust.
- Correspondence, deeds, mortgages, and business papers document the Burnett Family of Marshall County, Illinois.
- It had won its case in 1994, when a French court decided that Windsor had signed a mortgage deed.
- 1.2A loan obtained through the conveyance of property as security: I put down a hundred thousand in cash and took out a mortgage for the restMore example sentences
- Last month the building society launched a mortgage with an interest rate capped at 4.99% until May 2009.
- Surely the interest paid over the life of the mortgage is enough for banks and building societies to absorb the costs themselves?
- They take out mortgages and life insurance policies.
verb[with object] Back to top
- 1Convey (a property) to a creditor as security on a loan: the estate was mortgaged up to the hiltMore example sentences
- During this time her brother-in-law mortgaged the property, without her knowledge, as security for his own debts, and when he defaulted on the repayments, the bank sought possession of the property.
- Hjorten and Fuller went without salaries for the project's first year and financed the company by mortgaging their property and by taking on credit-card debt.
- Mr. Aarts mortgaged this property to provide part of the funds used to purchase the home.
- 1.1Expose to future risk or constraint for the sake of immediate advantage: some people worry that selling off federal assets mortgages the country’s futureMore example sentences
- Middle-class British parents, meanwhile, are mortgaging their futures to keep their children out of state schools, or to buy homes in areas where the local state school has a civilized reputation.
- They are wasting their youth and mortgaging their future.
- We are on a spending spree that's mortgaging our children's futures, and I feel very strongly about that.
- More example sentences
- The only solution we could find was to turn it into living accommodation, because this would allow the property to become mortgageable.
- He is eminently employable - if not employed - and mortgageable, though it was submitted on his behalf that it was not so.
- Unless the loan is reinvested in the home, borrowing against the free mortgageable value makes households more vulnerable to falling property prices.
late Middle English: from Old French, literally 'dead pledge', from mort (from Latin mortuus 'dead') + gage 'pledge'.
More definitions of mortgageDefinition of mortgage in:
- The British & World English dictionary