OFFSET MORTGAGE


Meaning of OFFSET MORTGAGE in English

ˈoffset ˌmortgage BrE AmE noun [countable]

a type of ↑ mortgage given by banks, in which the money someone has in their bank account is taken away from the amount they owe, reducing the total amount of interest they have to pay

Longman Dictionary of Contemporary English.      Longman - Словарь современного английского языка.