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mortgage
(redirected from Self-cert mortgage)

   Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
mortgage,
n a right given to the creditor over the property of the debtor for the security of the debt; invests the creditor with the power to have the property seized and sold in default of payment.


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quot; said Lookingbusy "I''d love to meet one of these people who borrowed irresponsibly on a self-cert mortgage.
Self-cert mortgages have always been more expensive than traditional loans.
That may partly explain why the sub-prime market is the one of the fastest-growing areas: almost one borrower in five now has either a sub-prime or a self-cert mortgage and together they account for more than £50bn of all outstanding mortgages.
 
 
 
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