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reverse mortgage
(finance) An agreement under which money is borrowed to be repaid only when the borrower sells their home or dies or moves.
mortgage bonds
plural of mortgage bond
mortgage bond
(finance) A bond secured by a lien on real estate.
liar's mortgage
(informal, derogatory) A stated-income (US) or self-certificated (UK) loan secured by a mortgage granted without the lender verifying information provided by the applicant as to financial or employment status.
tracker mortgage
(UK, finance) A variable-rate mortgage where the amount of interest paid on the loan is linked to the Bank of England's base rate by a fixed differential.
mortgage belts
plural of mortgage belt
repayment mortgage
(finance) A type of mortgage (typically a loan to buy a house) in which, over the term of the loan, the borrower gradually repays the loan principal, in addition to paying interest, so that at the end of the term the principal is wholly repaid. Contrasted with endowment mortgage.
mortgage deeds
plural of mortgage deed
mortgage deed
Used other than figuratively or idiomatically: see mortgage, deed. / (slang, obsolete) A pawnbroker's ticket or duplicate.
endowment mortgage
(finance) A type of mortgage (typically a loan to buy a house) where, over the term of the loan, the borrower's regular payments to the lender cover only the interest charged by the lender. At the same time, the borrower makes regular payments into a separate savings or investment plan. When this plan matures, the borrower uses the proceeds to repay the principal of the loan. Contrasted with repayment mortgage.
