mortgage

[ mawr-gij ]
/ ˈmɔr gɪdʒ /

noun

a conveyance of an interest in property as security for the repayment of money borrowed.
the deed by which such a transaction is effected.
the rights conferred by it, or the state of the property conveyed.

verb (used with object), mort·gaged, mort·gag·ing.

Law. to convey or place (real property) under a mortgage.
to place under advance obligation; pledge: to mortgage one's life to the defense of democracy.

Origin of mortgage

1350–1400; earlier morgage, Middle English < Old French mortgage, equivalent to mort dead (< Latin mortuus) + gage pledge, gage1

Related forms

o·ver·mort·gage, verb, o·ver·mort·gaged, o·ver·mort·gag·ing.re·mort·gage, verb (used with object), re·mort·gaged, re·mort·gag·ing.sub·mort·gage, nounun·mort·gage, verb (used with object), un·mort·gaged, un·mort·gag·ing.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019

British Dictionary definitions for remortgage (1 of 2)

remortgage

/ (riːˈmɔːɡɪdʒ) /

verb

to take out a new or different mortgage on a property

British Dictionary definitions for remortgage (2 of 2)

mortgage

/ (ˈmɔːɡɪdʒ) /

noun

an agreement under which a person borrows money to buy property, esp a house, and the lender may take possession of the property if the borrower fails to repay the money
the deed effecting such an agreement
the loan obtained under such an agreementa mortgage of £48 000
a regular payment of money borrowed under such an agreementa mortgage of £247 per month

verb (tr)

to pledge (a house or other property) as security for the repayment of a loan

adjective

of or relating to a mortgagea mortgage payment

Derived Forms

mortgageable, adjective

Word Origin for mortgage

C14: from Old French, literally: dead pledge, from mort dead + gage security, gage 1
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Culture definitions for remortgage

mortgage

[ (mawr-gij) ]

A legal agreement that creates an interest in real estate between a borrower and a lender. Commonly used to purchase homes, mortgages specify the terms by which the purchaser borrows from the lender (usually a bank or a savings and loan association), using his or her title to the house as security for the unpaid balance of the loan.

The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.