Hungry Haggis

What is a mortgage?

• A gift from a mortgage lender

• A sale of real estate

• A lease for a property

• A loan from a mortgage lender

What does the mortgage lender receive as security for the loan?

• The bank accounts of the borrower

• The property of the borrower

• The jewelry of the borrower

• The car of the borrower

What is a land charge?

• A legal encumbrance on real property

• A sale of real estate

• A lease agreement for real estate

• A gift from the bank

What is the purpose of taking out a mortgage?

• To buy new furniture

• To pay taxes

• To enrich the bank

• To secure the owner's debt

What does the bank receive through the mortgage?

• The right to enforce the mortgage in case of insolvency

• The right to sell the property

• The right to gift the property

• The right to use the property for free

What happens in case of the borrower's insolvency?

• The bank enforces foreclosure on the house and land

• The bank loses the right to the property

• The bank closes the borrower's accounts

• The bank forgives the debts

Which property serves as security for a mortgage?

• The holiday home abroad

• The car of the borrower

• The main residence of the borrower

• The rental apartment of the borrower

What happens if the interest cannot be paid?

• The property serves as security

• The bank gives money to the borrower

• The property is sold

• The bank waives the interest

What is the basic mortgage?

• A right to sell the property

• A right to free use of the property

• A right to donate the property

• A right to enforce foreclosure in case of insolvency

What role does the bank play in a mortgage?

• She becomes the tenant of the property

• She receives the right to foreclose in case of insolvency

• She becomes the owner of the property

• She gives money to the owner