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About: Private mortgage     Goto   Sponge   NotDistinct   Permalink

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A private mortgage is a type of mortgage loan whereby funds can be sourced from another person or business rather than borrowing from a bank or other finance provider. Private mortgages were once commonly put in place by solicitors in rural locations throughout the United Kingdom, where the solicitor put borrowers and lenders together and protected the arrangement by using the borrower’s property as security.