reverse mortgage
noun[C]
finance & economicsUSspecializeduk/rɪˌvɜːs ˈmɔː.ɡɪdʒ/us/rɪˌvɝːs ˈmɔːr.ɡɪdʒ/(UKequity release)afinancialarrangementthatallowsapersonwhoownsahousetoobtainmoneybasedon thevalueoftheirhouse, whilecontinuingtolivein it:
Areversemortgageenablesolderhomeownerstoconverttheequityintheirhomesintoincome.
- Fallinghousepricesmeanthat fewerpropertieswillqualifyforreversemortgages.
- Thenumberofhomeownerstaking outreversemortgageshas beenrisingnationallyover the past 18years.
- If you areage62 orolderand ownyourhome, youqualifyfor areversemortgageloan.
Mortgages & real estate
- blockbusting
- brick
- bricks and mortaridiom
- BTL
- buy-to-let
- chain
- equity
- first-time buyer
- householder
- letting
- planning blight
- real estate broker
- Realtor
- realty
- realty office
- refinance
- remortgage
- repo
- repossession
- show home