Status: You are viewing the version of the handbook as on 2009-03-31.

shared appreciation mortgage

    15a regulated mortgage contract, a condition of which is that the mortgage lender will receive a share in any increase in value in the mortgaged property when the customer either sells the property or terminates the contract including a contract where, if there is a reduction in value, the customer is required to pay the mortgage lender all or part of the shortfall.