mortgage
[verb]
Synonyms: pawn, dip, hock, impignorate, pledge, pop, spout

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English Thesaurus: loan, mortgage, interest, overdraft, debt, ...

[TahlilGaran] English Synonym Dictionary ▲

I. mort‧gage¹ W3 /ˈmɔːɡɪdʒ $ ˈmɔːr-/ noun [countable]
[Date: 1300-1400; Language: Old French; Origin: mort 'dead' + gage 'promise']

1. a legal arrangement by which you borrow money from a bank or similar organization in order to buy a house, and pay back the money over a period of years:
Your building society or bank will help arrange a mortgage.
They’ve taken out a 30-year mortgage (=they will pay for their house over a period of 30 years).
We decided to use Fred’s redundancy money to pay off the mortgage (=pay back all the money we borrowed for a mortgage).
Mortgage rates are set to rise again in the spring.
She was having trouble meeting her mortgage payments.

2. the amount of money you borrow in the form of a mortgage:
If you earn £20,000 per year, then you may be able to get a mortgage of £60,000.

[TahlilGaran] Dictionary of Contemporary English ▲

II. mortgage² verb [transitive]

1. if you mortgage your home, land, or property, you borrow money, usually from a bank, and if you cannot pay back the money within a particular period of time, the bank has the right to sell your property in order to get the money you owe it:
We mortgaged our house to start Paul’s business.

2. mortgage the/sb’s future to borrow money or do something that is likely to cause problems in the future, that other people will have to deal with:
The report explains how governments are mortgaging their nations’ futures.

[TahlilGaran] Dictionary of Contemporary English ▲

mortgage
noun
ADJ. big, huge | small | cheap Banks often offer their employees cheap mortgages.
endowment, fixed-rate, repayment
VERB + MORTGAGE have We've got a big mortgage.
get, raise (formal), take out They were having trouble getting a mortgage. We'll have to take out a second mortgage to pay for this holiday!
pay, pay off, redeem, repay He didn't earn enough to support his family and pay the mortgage. There are penalties if you want to redeem your mortgage early.
be in arrears with, fall behind with, get behind with They were in arrears with their mortgage, so their home was repossessed.
MORTGAGE + NOUN (interest) payment, repayment They were struggling to keep up with their mortgage repayments.
rate a rise in mortgage rates
lender
PREP. ~ of a mortgage of £80,000
~ on I couldn't get a mortgage on the property.

[TahlilGaran] Collocations Dictionary ▲

mortgage

have a mortgage
They have a mortgage on a small house in North London.
take out a mortgage (=borrow money to buy a house)
We took out a 25-year mortgage.
get a mortgage
We couldn't get a mortgage.
pay/repay a mortgage
If I lose my job, we won't be able to pay the mortgage.
pay off a mortgage (=finish paying all the money you owe)
They paid off their mortgage five years early.
fall/get behind with the mortgage (=be unable to pay enough money each month)
He fell behind with the mortgage when he lost his job.
big/high
They both need to work full-time because their mortage is so big.
cheap (=with a low interest rate)
Homebuyers are eager to take advantage of the cheap mortgages on offer.
a mortgage payment
If interest rates go down, your mortgage payments will fall.
the mortgage rate (=the rate of interest you will pay on a mortgage)
You need to shop around for a good mortgage rate.
a mortgage lender (=a bank that provides mortgages)
Nearly all mortgage lenders plan to raise their interest rates.

[TahlilGaran] Collocations Dictionary ▲

loan noun [countable] an amount of money that is borrowed, especially from a bank or company, which you agree to pay back by the end of a period of time:
We took out a loan to buy a new car.
He is paying back a $50,000 loan.
mortgage noun [countable] a large amount of money that someone borrows from a bank or company to buy a house:
Nick told me the mortgage on his apartment is worth about $90,000.
Anyone taking out a mortgage should be aware that interest rates can go up at any time.
It took my parents nearly thirty years to pay off their mortgage.
interest noun [uncountable] money that you pay for borrowing money, especially that you pay every year or every month at a fixed rate:
Credit companies charge huge amounts of interest.
What’s the interest on the loan?
overdraft noun [countable] British English the amount of money that you owe to bank when you have spent more money than you had in your account:
I left university with no job and a big overdraft.
20% of the bank’s customers regularly use their overdraft facility.
You have to pay a fee for unauthorized overdrafts.
debt noun [uncountable and countable] an amount of money that a person or organization owes:
The company now has debts of almost £2 million.
A lot of the money went towards paying his debts.
The family were $100,000 in debt (=they owed $100,000).
credit noun [uncountable] an arrangement with a shop or bank that allows you to buy something and pay for it later:
We bought the furniture on credit.
He had a credit limit of £7,000.

[TahlilGaran] English Thesaurus ▲