What is a Mortgage?
A mortgage is an instrument, secured by specified collateral, that a borrower is obliged to pay back with a predetermined set of payments.
A typical application is where they are used to purchase real estate or other assets, without paying the entire value of the purchase up front.
With our experience in facilitating borrowing for people and businesses we see a lot of these. Generally, the terms of mortgages are regulated by law so there is a lot in the fineprint.