Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “MIP”

MIP

noun [C]
 
 
PROPERTY
abbreviation for mortgage indemnity premium: a type of insurance in the UK that is paid by someone borrowing money to buy a house. The insurance protects the lender against a fall in the value of the house if the borrower cannot pay back the loan: Most building societies insist on an MIP for loans over 90%. → Compare PMI
(Definition of MIP from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of MIP?
Add Cambridge dictionaries to your browser to your website

Word of the Day

from the word go

from the start of something

Word of the Day

Countability – grammar codes

by Dom Glennon​​,
November 26, 2014
Advices and informations Have you ever noticed strange codes in square brackets on entries in Cambridge Dictionaries Online and wondered what they mean? These are grammar codes, giving you a brief summary of how that word behaves grammatically. More information can be obtained by hovering your cursor over the code, and there’s

Read More 

ped-text verb

November 24, 2014
to text someone while walking I’m ped-texting, I’m looking down at my phone, 75 percent of the time.

Read More