noun, verb · formal

mortgage

UK/ˈmɔːgɪdʒ/US/ˈmɔːrɡɪdʒ/MOR·gage

Band 4-5task2speaking

a loan, especially one for buying property, where the property is used as security

Examples

“They took out a mortgage to buy their first house.”

“She's still paying off her mortgage after 20 years.”

“Mortgages usually last for 15 to 30 years.”

Band 8 sentence

“Because interest rates rose, many homeowners found their mortgage payments increasingly burdensome.”

Collocations

  • take out a mortgage
  • mortgage payment
  • pay off the mortgage

Word family

mortgagor nounmortgagee noun

Common mistakes

I have a mortgage from bank for my house.→I have a mortgage from the bank for my house.

They paid the mortgage off last yeared.→They paid off the mortgage last year.

Say it for a higher band

5loan→6bank loan→7+mortgage

Synonyms

home loan

Easily confused

loan

“He applied for a loan to start his business.”

Related words

accommodationurbanizationmetropolisgardenresidenceinfrastructurehousecity

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In Hometown & Housing

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