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English definition of “mortgage”

mortgage

noun [C] uk   /ˈmɔː.ɡɪdʒ/ us    /ˈmɔːr-/
an agreement that allows you to borrow money from a bank or similar organization, especially in order to buy a house or apartment, or the amount of money itself: They took out a £40,000 mortgage (= they borrowed £40,000) to buy the house. a monthly mortgage payment

mortgage

verb [T] uk   /ˈmɔː.ɡɪdʒ/ us    /ˈmɔːr-/
to borrow money to buy a house or apartment: The house was mortgaged up to the hilt (= the full value of the house had been borrowed).
(Definition of mortgage from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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