Meaning of “mortgage” in the English Dictionary

"mortgage" in English

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mortgagenoun [ C ]

uk /ˈmɔː.ɡɪdʒ/ us /ˈmɔːr.ɡɪdʒ/

an agreement that allows you to borrow money from a bank or similar organization, especially in order to buy a house, or the amount of money itself:

They took out a £40o,000 mortgage (= they borrowed £40o,000) to buy the house.
a monthly mortgage payment

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mortgageverb [ T ]

uk /ˈmɔː.ɡɪdʒ/ us /ˈmɔːr.ɡɪdʒ/

(Definition of “mortgage” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"mortgage" in American English

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mortgagenoun [ C ]

us /ˈmɔr·ɡɪdʒ/

an agreement that allows you to borrow money from a bank or similar organization by offering something of value, esp. in order to buy a house or apartment, or the amount of money itself:

They took out a $90,000 mortgage to buy the house.

mortgageverb [ T ]

us /ˈmɔr·ɡɪdʒ/

to offer something of value in order to borrow money from a bank or similar organization:

They had to mortgage their home to borrow enough money to pay for their children’s education.

(Definition of “mortgage” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"mortgage" in Business English

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mortgagenoun [ C ]

uk /ˈmɔːɡɪdʒ/ us FINANCE, PROPERTY

a legal agreement to borrow money from a bank or other financial organization, especially to buy a house or other property, or the amount of money borrowed:

apply for/take out/get a mortgage You take out a mortgage on your home at a fixed rate of interest.
pay/pay off/repay a mortgage A large part of the money will be used to pay off a mortgage.
mortgage payment/repayment Once the interest rate rises, they won't be able to afford their monthly mortgage payments.
mortgage arrears/defaults Increases in unemployment will lead to a rise in mortgage arrears.
a 15/25/30-year mortgage

mortgageverb [ T ]

uk /ˈmɔːɡɪdʒ/ us FINANCE, PROPERTY

to borrow money using property as security (= an asset that will belong to the lender if the borrower does not pay back the loan):

mortgage sth to do sth He mortgaged his home to help finance the project.
The company mortgaged its assets to secure a $23 billion credit line.

(Definition of “mortgage” from the Cambridge Business English Dictionary © Cambridge University Press)

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mortgage

In addition, there are people on pension who are getting more on pension than they were getting twenty years ago when they had young children and a large mortgage.
The purpose of this project is to establish a digital database of registered active property rights, which are presently recorded on paper in mortgage offices, together with a spatial reference.
The mortgage market is fragmented along national lines and opening up this market should lead to consumers being offered better value and a greater choice of mortgage products.
There could be more opportunities for those people who currently find it difficult to get a mortgage, such as first-time buyers or people with fixed-term contracts.
We must remember, however, that the rules governing mortgage credit are subject to the power of the courts where the asset is located.
The subprime mortgage crisis has triggered a deflationary spiral which is not only ravaging the financial system, having wiped out more than 60% of the global value of shares.
There are those who need to make more money in order to pay off a mortgage and, thanks to today's vote, cannot do so.
No, if we consider that risk in the mortgage derivatives market, just as in the public-debt market, is impossible to assess.
Taking out a mortgage to buy a house is usually the largest and most expensive personal financial commitment entered into by most people.
There has always been a need to extend the transitional arrangements in the directive, which relates to mortgage-backed loans in respect of offices or commercial premises.