If the offer is later turned down by the buyer, the deposit may or may not be returned. The difference between the price for which a property could be sold and the total amount owing on it. A mortgage which is registered first against the property. This mortgage has to be paid first in the event of sale or default. See Variable rate mortgage.
Interest is the cost of borrowing.
It is the amount paid on the money borrowed. It is represented as an annual percentage rate applicable to the mortgage. What you owe. The last day of the term of your mortgage agreement. The mortgage must be paid in full, or the agreement renewed, by this date.