CeMAP 2 Practice Questions - CeMAP Module 2 - Mortgages (MORT) Exam

When a borrower takes out a mortgage, what legal interest does the lender obtain over the property?

Full ownership of the property A charge over the property as security for the loan A leasehold interest until the loan is repaid A licence to live in the property

Correct Answer:

A charge over the property as security for the loan

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