mortgaged

3 definitions • 5 examples

a mortgaged property has been bought using a mortgage that has not yet been paid back, or used as security to borrow money:

A transfer of mortgaged property from joint names to one name is likely to incur a charge.

Each house is worth about £200,000 and neither is mortgaged.

used to describe a person who has borrowed a lot of money to buy property, or the property itself:

Heavily-mortgaged families are unlikely to take on new challenges.

heavily-mortgaged properties/homes

having borrowed as much money as you possibly can to buy property:

If you are mortgaged up to the hilt, losing your job is a disaster.