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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Co-Borrowers

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The term used to describe the situation where two or more borrowers assume joint and several liability for the loan and are therefore equally able to authorise payments or make additional payments. If one co-borrower defaults on their part of the mortgage, the lender can insist that the other co-borrower repays the full amount.

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