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Legal Terms - equity of redemption
all of a mortgagor's rights over the mortgaged property, subject to the mortgagee's rights. The worth of the property less the outstanding debt secured against it is typically the equity of redemption, which is more commonly just called the "equity." A home valued at £500,000 that has a £250,000 outstanding mortgage, for instance, will have £250,000 in equity. This equity can be bequeathed by will and can enable additional borrowing (subject to priority issues). Equity's beloved View the buyer's
all of a mortgagor's rights over the mortgaged property, subject to the mortgagee's rights. The worth of the property less the outstanding debt secured against it is typically the equity of redemption, which is more commonly just called the "equity." A home valued at £500,000 that has a £250,000 outstanding mortgage, for instance, will have £250,000 in equity. This equity can be bequeathed by will and can enable additional borrowing (subject to priority issues). Equity's beloved View the buyer's
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