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Monetary Policy Committee - A committee that meets each month to set the Bank of England Base Rate Mortgage - A financial instrument requiring a borrower (mortgagor) to pay a sum of money to a lender (mortgagee) that has been loaned to the borrower in order to purchase a property. The property is used as collateral for the loan. Mortgage Broker - An entity that matches borrowers with mortgage products and lenders and helps the borrower to process and submit the Mortgage application. Mortgage Term - The period of time that a mortgage will remain an active legal and financial document. Mortgagee - The Mortgage Lender Mortgagor - The mortgage borrower. MPC - See Monetary Policy Committee |