Meaning
- (noun) A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property, such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered. “We're renting a property in the city centre because we can't afford to get a mortgage yet.”
- (noun) State of being pledged. “lands given in mortgage”
- (verb) To borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land; to pledge a property in order to get a loan. “We mortgaged our house in order to start a company.”
- (verb) To pledge and make liable; to make subject to obligation; to achieve an immediate result by paying for it in the long term.
Letter breakdown
- Mortgage contains 8 letters: 3 vowel(s) and 5 consonant(s).
- It uses 7 unique letters.
- Estimated syllable count: 2.
- Scrabble-style letter score: 12.
Words from these letters
Connected words
Other 8-letter words
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- abacuses
- abalones
- abandons
- abashing
- abattoir
- abbesses
- abdicate
- abdomens
- abducted
- abductee
- abductor
- aberrant
- abetters
- abetting
- abettors
- abeyance
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Words starting with MOR
- moraine
- moraines
- moral
- morale
- moralist
- moralistic
- moralists
- moralities
- morality
- moralize
- moralized
- moralizes
- moralizing
- morally
- morals
- morass
- morasses
- moratoria
See all words starting with MOR →
Words ending with AGE
Reader questions
What does Mortgage mean?
A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property, such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.
How many letters are in Mortgage?
Mortgage has 8 letters.
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