Legal English Challenge 2023 – Day 13 Reading

Mortgage agreement is a contract between a borrower, called the mortgagor, and the lender, called the mortgagee where a lien is created on the property in order to secure repayment of the loan; i.e. the lender obtains an interest in certain property (e.g. a house) as security for the loan. Mortgage loans are generally structured as long-term loans, the periodic payments for which are calculated according to  various formulae.

Though the exact language of the mortgage agreements varies by lender, you will find a few common sections in most standard mortgage agreements. For example, basic information that the mortgagor agrees to regarding the loan, including the amount borrowed and any additional costs associated with the loan. It commonly makes reference to other loan documents in the closing paperwork that set forth the exact terms of the loan, including repayment terms,  and interest rate associated with the mortgage. Both parties, the representative of the lender and the principal borrower(s) must sign the  mortgage agreement in the presence of a public notary. Also, the mortgagee must file the mortgage agreement with the land registry of the county where the property is located so that the registrar can update the public records.


to create a lien


land registry




to obtain interest in something

principal borrower(s)

public notary

public records



to secure the repaymnet of something

to set forth