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Jargon Buster - [ M N O ]Mortgage Indemnity Guarantee (MIG)
Mortgage Indemnity Guarantee. This is a fee sometimes payable by the borrower to insure the lender against potential loss if
a home has to be repossessed or sold.
Mortgage
In simple terms, a mortgage is a loan, which is secured against your property.
Mortgage Advance
The actual amount of money you borrow.
Mortgage Deed
The legal document by which the lender secures the loan against the borrower's property.
Mutual Society
A Society owned by its Members.
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