XPost: uk.politics.misc, uk.politics.parliament, alt.politics.british   
   XPost: uk.media, uk.legal   
   From: banana@REMOVE_THIS.borve.demon.co.uk   
      
   In article <3bq802pnr4llvcai90ruslg71s6bmvllgb@4ax.com>, Cynic   
    writes   
      
   >On Tue, 28 Feb 2006 13:41:12 +0000, banana   
   > wrote:>David Mills isn't as   
   >   
   >>He and his wife Tessa Jowell signed a document to get a loan from   
   >>Hambros Bank, who then put a charge on the title of their house   
   >>(commonly called a 'mortgage').   
   >   
   >Well no.  A mortgage is the term usually used to describe a *long   
   >term* loan secured on property, designed to be paid back in   
   >installments over years.  The activity in question would normally be   
   >described as a "bridging loan, using the property as security".   
      
   A mortgage is a kind of charge put on the title.   
      
   A mortgage isn't any kind of a loan.   
      
   The word means 'dead pledge', i.e. if the debtor doesn't meet the   
   conditions of the loan, then their title to the property is 'dead' and   
   the property goes to the creditor.   
      
   It used to be considered as something shameful, before the financial   
   institutions did a lot of marketing in the 1950s and 1960s, and made   
   many people think it was something that was being 'given' to them.   
      
   >What has not been clarified is whether the loan was one designed to be   
   >repaid over a protracted peiod of time which was then paid back within   
   >a month.   
   >   
   >Even that is not too unusual.   
      
   But why is the length of the period of time of any relevance here?   
      
   BTW if you read about P2, e.g. 'In God's Name' by David Yallop, you'll   
   come across many references to Hambros Bank. They have many Italian   
   connections, and indeed the Hambro family financed the creation of   
   modern Italy.   
      
   --   
   banana     "The thing I hate about you, Rowntree, is the way you   
               give Coca-Cola to your scum, and your best teddy-bear to   
               Oxfam, and expect us to lick your frigid fingers for the   
               rest of your frigid life." (Mick Travis, 'If...', 1968)   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)