first mortgage Meaning in the Cambridge English Dictionary
Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

Meaning of “first mortgage” in the English Dictionary

"first mortgage" in Business English

See all translations

first mortgagenoun [C]

uk   us  
PROPERTY, FINANCE if a ​person or ​financialorganization has a first ​mortgage on a ​property, they have the ​right to be ​paid first if its ​ownerfails to ​pay back ​money they have ​borrowed to ​buy the ​property: If he ​loses his ​house, ​proceeds from its ​sale would go toward ​paying off the first ​mortgage.
(Definition of first mortgage from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of first mortgage?
Add Cambridge dictionaries to your browser to your website
Word of the Day
public school

in England, an expensive type of private school (= school paid for by parents not by the government)

Word of the Day

Introducing a new author and a new weekly blog post!
Introducing a new author and a new weekly blog post!
by ,
August 27, 2015
by Cambridge Dictionaries Online The English language is constantly changing. You know that. But did you know that at Cambridge Dictionaries Online we keep track of the changes? We continually add new words and new meanings to our online dictionary for learners of English. Some of them are new to English entirely (neologisms), and some

Read More 

hyperpalatable adjective
hyperpalatable adjective
August 24, 2015
describes food with heightened levels of sugar and salt, intended to be extremely appealing In Brazil, where the prevalence of overweight and obese adults has doubled since 1980, crisps, biscuits, energy bars and sugary drinks formulated to be ‘hyper-palatable’ are much more widely eaten than previously.

Read More