mortgage

Universal Words noun, verb noun (also informal home loan) a legal agreement by which a bank or similar organization lends you money to buy a house, etc., and you pay the money back over a particular number of years; the sum of money that you borrow: to apply for / take out / pay off a mortgage * mortgage rates (= of interest) * a mortgage on the house * a mortgage of ｣60000 * monthly mortgage repayments verb [VN] to give a bank, etc. the legal right to own your house, land, etc. if you do not pay the money back that you have borrowed from the bank to buy the house or land: He had to mortgage his house to pay his legal costs.