Topic: LOANS
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| Date: | 1300-1400 |
| Language: | Old French |
| Origin: | mort 'dead' + gage 'promise' |
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mort‧gage1 W3
[countable]
[countable]1BFL 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.We decided to use Fred's redundancy money to pay off the mortgage (=pay back all the money we borrowed for a mortgage).
Your building society or bank will help arrange a mortgage.We decided to use Fred's redundancy money to pay off the mortgage (=pay back all the money we borrowed for a mortgage).2BFL 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.
If you earn £20,000 per year, then you may be able to get a mortgage of £60,000.
