MORTGAGE

A mortgage is the pledging of a property to a lender as a security for a mortgage loan.
While a mortgage in itself is not a debt, it is evidence of a debt.
It is a transfer of an interest in land, from the owner to the mortgage lender, on the condition that this interest will be returned to the owner of the real estate when the terms of the mortgage have been satisfied or performed.
In other words, the mortgage is a security for the loan that the lender makes to the borrower.
In many countries it is normal for home purchases to be funded by a mortgage. In countries where the demand for home ownership is highest, strong domestic markets have developed, notably in Spain, the United Kingdom, Australia and the United States.

A mortgage is probably one of the biggest financial commitments that many borrowers will ever make, and with the wide range of deals available there is a mortgage suited to every homeowner's circumstances - unfortunately this can lead to the market appearing complex and confusing.

Refinancing loan   Personal loan