Question

We can't buy a house unless we take out a (n) overdraft

Answer 1

We can't buy a house unless we take out a Mortgage.

EXPLANATION:  

• Generally, when a person aspires to buy a house of their own they go to the banks to ask for loans.
• The bank approves the loan and gives the investor the money to buy their house.
• But, before that the borrower has to agree with some of the terms and conditions of the banks and to also guarantee the bank with some property which is called as Mortgage.
• This Mortgage could be sold by the bank in case the borrower is found to be a defaulter, and the money that is made after selling the mortgage would to utilized by the bank to recover their debts.