Okuzeka
Real Estate vocabulary · Mortgages & Financing

Lender

Meaning in real estate, with examples

/ˈlendər/nounCore term

In real estate, lender means: A bank or other financial company that lends money, especially one that provides mortgages to home buyers.

In Turkish: kredi veren kuruluş, banka, borç veren

How it is used

A key party in property deals: the lender orders the appraisal, sets the loan conditions and holds a charge on the property until the loan is repaid. Agents and lawyers often say 'the lender needs...' when documents are missing.

Example sentences

  1. The lender wants three months of bank statements before approving the loan.

  2. We compared five lenders before choosing a mortgage.

Common collocations

  • mortgage lender
  • speak to a lender
  • lender requirements
  • the lender's valuation
  • mortgageA long-term loan used to buy a property, in which the property itself serves as security for the lender until the loan is paid back.
  • pre-approvalA lender's written statement, given after checking a buyer's income, debts and credit history, that it is willing to lend up to a certain amount.
  • loan-to-value ratioThe size of a mortgage compared with the value of the property, shown as a percentage. A 200,000 loan on a 250,000 home is an 80% ratio.
  • appraisalA professional estimate of how much a property is worth, made by a qualified appraiser, often because a bank needs it before lending.
  • mortgage brokerAn adviser who compares loans from many lenders and helps buyers find and apply for a mortgage, paid by a fee, by the lender or both.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Mortgages & Financing

Practise with graded reading

Reading at the right level is the fastest way to make new words stick. Pick free English books by level: