Definition of mortgage in English:



  • 1A legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

    • ‘It can accordingly be the subject of a charge or mortgage, effected by means of an assignment.’
    • ‘There is no question that there was a proper mortgage under the Real Property Act, but then it is said it was not proved that the consent of the mortgagee was given to that lease.’
    • ‘The Plaintiffs separately claim the debt incurred with the mortgages on the property.’
    • ‘The Bank obtained an array of security documents ranging from general security agreements to mortgages or charges on land.’
    • ‘A transaction for which land transfer tax is payable includes a final order of foreclosure under any mortgage or charge affecting land.’
    • ‘If you have personal debt, such as a line of credit used for investment purchases, consider converting this debt into a personal mortgage on real estate.’
    • ‘Thus, in Forster, the defendant solicitors were instructed to advise the plaintiff about executing a mortgage which charged her freehold property as security for a loan made to her son.’
    credit, advance
    View synonyms
    1. 1.1A loan obtained through the conveyance of property as security.
      ‘I put down a hundred thousand in cash and took out a mortgage for the rest’
      • ‘What do you think the increased cost of mortgages will do for your boom?’
      • ‘Our new mortgage will be for 15 years rather than 25 because I would like to pay it off as soon as I can.’
      • ‘Special deals, such as fixed and capped rate mortgages, will usually carry these penalties.’
      • ‘So a customer with a flexible mortgage will be able to overpay, underpay and apply for a payment holiday or funds from the draw-down facility to coincide with their changing circumstances.’
      • ‘More fixed-rate mortgages will also help to bring Britain into line with other countries in the European Union and hasten entry into the single monetary system - the euro.’
      • ‘While speaking of mortgages what will happen to them during 2001?’
      • ‘Of the two main products, lifetime mortgages will come under FSA regulation and ombudsman protection, but home reversion plans will not - at least for the time being.’
      • ‘If they continue, many mortgages will be difficult to service.’
      • ‘They take out mortgages and life insurance policies.’
      • ‘Now she is worried about her mortgage, which will soon have to be renewed, as doubts grow over the direction of interest rates.’
      • ‘Additional finance was to be raised by a mortgage with the Yorkshire Bank.’
      • ‘A Your job history and how well you have repaid past debts are important factors in whether you'll qualify for a mortgage.’
      • ‘Obtaining a mortgage anywhere will depend largely on the ability of the borrower to repay the loan.’
      • ‘These sub-prime mortgages have a terrible record.’
      • ‘Although borrowers may be comfortable taking out loans and mortgages at current interest rates, what is the likelihood of a rise in rates, over the medium to long term?’
      • ‘Our guide through the mortgage maze will help house-hunters identify the right product for their needs.’
      • ‘Last month the building society launched a mortgage with an interest rate capped at 4.99% until May 2009.’
      • ‘Surely the interest paid over the life of the mortgage is enough for banks and building societies to absorb the costs themselves?’
      • ‘However, some mortgages will suit your needs better than others, so how do you decide which one's best for you?’
      • ‘Thanks to new regulations that came into effect last October, mortgages are now overseen by the Financial Services Authority.’
    2. 1.2A deed effecting the conditions of a mortgage.
      • ‘Correspondence, deeds, mortgages, and business papers document the Burnett Family of Marshall County, Illinois.’
      • ‘Sounds a bit like me with my mortgage deeds, come to think of it.’
      • ‘It is claimed that his signature is on a joint mortgage document with Smith and that meant he could undertake a complex financial transaction as part of the deal.’
      • ‘The piece of paper that documents this pledge is usually called a mortgage or a deed of trust.’
      • ‘I am terrified that signing a mortgage will make me sacrifice my time to pay for a shell to house my life.’
      • ‘It had won its case in 1994, when a French court decided that Windsor had signed a mortgage deed.’
      • ‘How do you complain against the organisation that probably holds your mortgage deeds?’


  • 1 Convey (a property) to a creditor as security on a loan.

    ‘the estate was mortgaged up to the hilt’
    • ‘They granted John Jr. a power to mortgage the Property for an amount not to exceed $500,000.’
    • ‘This involved mortgaging those estates heavily to the government and using the capital for development and the hire of wage-labour.’
    • ‘Most families take out heavy loans, pawn jewelry and other valuables or mortgage their property to scrape together the money to fund the illicit journey.’
    • ‘Returning to Ireland, he took out a bank loan, mortgaging his house, and hit up former employer Tullow Engineering for backing.’
    • ‘Mr. Aarts mortgaged this property to provide part of the funds used to purchase the home.’
    • ‘The bank leant heavily on his elderly father, and in due course the latter without further advice mortgaged his farm to cover his son's further outgoings.’
    • ‘Mrs Smyth had agreed to mortgage the 124-acre family farm in CoTipperary, and had signed a consent form under the 1976 act.’
    • ‘Without it, you can't raise funds by mortgaging your land, hence no investment, no capital accumulation and no climbing out of poverty’
    • ‘Hjorten and Fuller went without salaries for the project's first year and financed the company by mortgaging their property and by taking on credit-card debt.’
    • ‘All four are said to be mortgaged to the Midland Bank to secure a loan, which exceeds their value, and to generate income less than the sums required to service the loan.’
    • ‘They constantly refer to becoming a ‘millionaire’, but owning mortgaged properties worth £1 million is not the same as having £1 million of capital.’
    • ‘None of the team's assets, including its Milton Keynes headquarters, is mortgaged to banks or creditors, and the 300 staff are skilled and committed.’
    • ‘That is the guts of it, really, and, especially that this pastoral lease has been mortgaged - this brings another problem.’
    • ‘I then purchased Park lane with the additional funds I gained by mortgaging some properties.’
    • ‘Much of what appears to be ‘owned’ farm property is mortgaged to the Land Bank or is held as collateral by one of the other banks.’
    • ‘The moment the patents were granted they would be valuable pieces of Intellectual Property, which could be mortgaged, sold or handled in any normal way.’
    • ‘During this time her brother-in-law mortgaged the property, without her knowledge, as security for his own debts, and when he defaulted on the repayments, the bank sought possession of the property.’
    • ‘Many growers are heavily mortgaged and have reduced equity in their farms, which makes them less attractive to lenders.’
    • ‘In July the goods were mortgaged by the Claimant to HSBC as per the HSBC chattel mortgage under the covenants of which… the Claimant had obligations which were wholly inconsistent with rejection of the goods.’
    • ‘Section 144 allows the transfer of leases and section 144 allows leases to be mortgaged and there are subsequent provisions which deal specifically with a mortgage over a leasehold or licence.’
    • ‘They were required to mortgage their property to insure against the need to pay compensation for damage done by robbers.’
    1. 1.1Expose to future risk or constraint for the sake of immediate advantage.
      ‘some people worry that selling off federal assets mortgages the country's future’
      • ‘At the same time, they are mortgaging the future of our children and our country.’
      • ‘‘We're not going to mortgage the future in order to win a few extra games the first season,’ he says.’
      • ‘In such a situation, younger people may question whether their futures should be mortgaged to care for those who are making no productive contributions to society for such an extended portion of their lives.’
      • ‘But students cannot mortgage their future earnings potential to pay for their living expenses in the present.’
      • ‘The hard truth is, California's future is already mortgaged.’
      • ‘He is borrowing to buy the club, thus effectively mortgaging its future.’
      • ‘Slashing college budgets doesn't mortgage the future, it potentially eradicates it.’
      • ‘We should focus on measures that help the current economy without further mortgaging our future.’
      • ‘They are wasting their youth and mortgaging their future.’
      • ‘It is easy to say that these actions mortgaged the future.’
      • ‘Whenever a nation or nations go to war, they mortgage the lives of future generations.’
      • ‘Isn't true wealth the ability to live abundantly without mortgaging your future?’
      • ‘Inspections are a form of appeasement - they will buy a little time, but ultimately they mortgage our future to a dictator.’
      • ‘However there were risks in mortgaging means of production.’
      • ‘If a team is young they must mortgage the future so that they can win in the here and now.’
      • ‘Middle-class British parents, meanwhile, are mortgaging their futures to keep their children out of state schools, or to buy homes in areas where the local state school has a civilized reputation.’
      • ‘We are on a spending spree that's mortgaging our children's futures, and I feel very strongly about that.’
      • ‘He railed against the banks, the shops, the ‘irresistible power’ of advertising and the fact that we have all, supposedly, mortgaged our future for a relentless, driven, empty consumerism.’
      • ‘Yet they aren't in bad shape for a franchise that mortgaged its future.’
      • ‘However, they have simply mortgaged worker's futures, preparing the way for more wide-ranging attacks affecting the great majority of the workforce as are now taking place.’


Late Middle English: from Old French, literally dead pledge from mort (from Latin mortuus dead) + gage pledge.