10 strange and funny mortgage facts through history: 1

Mortgages and houses. Are a serious matter. So we have tried to track down a few fun facs over a series of blogs. 10 quick facts from history, the weird and wonderful. When did mortgages start? How did they start? What were the terms? Over the years i'm sure there are a million and one strange facts, here are a few. Look out for the next post!

Ready to start your process?

Enquire about a mortgage with our affordability form. No imprint on your credit score.

Will not affect credit score

January 29, 2024
11:40 am

You are here: Home > News & Guides > 10 strange and funny mortgage facts through history: 1

Ancient Mortgages: In ancient Rome, mortgages were quite different from today. If a borrower failed to repay, the lender could literally claim a pound of the borrower’s flesh as collateral. This practice is famously depicted in William Shakespeare’s play “The Merchant of Venice.”
Mortgage Marathons: In 1999, a couple in New Zealand set the world record for the longest continuous kiss to win a house. They locked lips for 33 hours and 45 minutes, winning a $30,000 mortgage towards their dream home.
Haunted House Discounts: In some places, if a house is considered haunted, it might be challenging to sell. To counter this, some creative real estate agents have offered “haunted house discounts” on mortgages to attract buyers.
Mortgages for Pets: In 2017, a Swedish pet insurance company offered the world’s first mortgage for pets. Pet owners could take out loans to cover unexpected veterinary bills, ensuring their furry friends received the best care.
Equity Release for Celebrities: Some celebrities, like actor Robert Wagner, have endorsed equity release mortgages as a way for older individuals to tap into their home equity. It adds a humorous twist to the idea of famous faces promoting financial products.
Mortgage Burning Parties: In the mid-20th century, it was a tradition for homeowners to celebrate paying off their mortgages by hosting “mortgage burning parties.” They would literally burn their mortgage documents as a symbol of financial freedom.
Mortgages for Islands: In 2019, a crowdfunding campaign attempted to raise money to buy an island and turn it into a cryptocurrency utopia. Participants could contribute and, in return, receive a form of ownership represented by a blockchain-based mortgage.
Mortgage for Beer: In 1965, a brewery in England took an unusual approach to financing. To expand their business, they offered a mortgage on the brewery with a unique bonus – investors were rewarded with a lifetime supply of beer.
Subprime Mortgage Crisis Blame: During the subprime mortgage crisis of 2008, some creative thinkers blamed the trouble on the witches in Salem, Massachusetts. A tongue-in-cheek petition was circulated, stating that the witches were angry about the unfair housing market practices.
Mortgage on the Moon: In 1980, Dennis Hope claimed ownership of the moon and started selling lunar real estate. While not legally recognized, Hope’s Lunar Embassy has sold thousands of “moon deeds,” allowing buyers to officially own a piece of the moon and, hypothetically, take out a mortgage on it.

Clever Mortgages is now part of Oak Mortgages Limited.

Don’t worry, you’ll still be looked after by the same friendly, experienced team you know and trust. We’re here to guide you every step of the way on your mortgage journey.

👉 Discover more about us at www.oakmortgages.co.uk or see what our happy clients are saying on Google Reviews.

      EXCELLENT  
   Based on 82 reviews 
    
 
 
 
   
 
 
       Posted on Google  
   
   G S 
 
 
 
 Trustindex verifies that the original source of the review is Google. From the very first contact through (what was a complex and hugely frustrating conveyancing process), to the day of completion, Oak Mortgages were the shining light that got us through. Sarah and her team were brilliant. They were responsive, caring, empathetic, knowledgeable, professional, and human at each and every stage. We are so grateful that we used Sarah and Oak Mortgages and highly recommend them to anyone wanting to guarantee that authentic, trustworthy approach from professionals who care. A top class act - 5 ⭐️⭐️⭐️⭐️⭐️
  
 
      Posted on Google  
   
   DOBO and the Foodies 
 
 
 
 Trustindex verifies that the original source of the review is Google. Awesome service, helped me at every step on a journey I never thought at 50 I could make! Sarah is amazing available whenever I needed her highly recommend
  
 
      Posted on Google  
   
   Caoimhe Clarke 
 
 
 
 Trustindex verifies that the original source of the review is Google. Thank you to Abby and the admin team at Oak Mortgages who have been fantastic in helping me secure a remortgage on my property. From my first phone call to Abby I was filled with confidence and the experience with the team was brilliant, especially when other companies involved were not so brilliant the Oak Mortgage team pulled out all the stops to make sure completion happened. I would highly recommend this company and will use their services in the future. Thank you again.
  
 
      Posted on Google  
   
   Lisa Zuccotti 
 
 
 
 Trustindex verifies that the original source of the review is Google. Excellent company to deal with , very efficient and caring ensured all our needs where met . Highly recommended.
  
 
      Posted on Google  
   
   Reece Baird 
 
 
 
 Trustindex verifies that the original source of the review is Google. claire.geraghty Amazing lady, helped me all the way to the finish line! Highly recommend!
  
 
      Posted on Google  
   
   graham draper 
 
 
 
 Trustindex verifies that the original source of the review is Google. Excellent service and advice throughout the whole process making for a very straightforward experience with special thanks to Abby and Ashleigh.
  
 
      Posted on Google  
   
   Ant 
 
 
 
 Trustindex verifies that the original source of the review is Google. Alex at Oak Mortgages has been an absolute life-saver. After being let down by a previous mortgage advisor who wanted me to take a massive risk with no guarantees, I contacted Oak Mortgages and was put in touch with Alex. Not only did he find me a mortgage with the exact same lender without having to take that risk, but he also got me accepted! His knowledge is top-notch, his communication is brilliant—he always picked up the phone and replied to emails super fast with regular updates. As a first-time buyer, Alex was hands-down the best part of the entire buying process. I am now happily settled in my new home, and I have Alex to thank for it. I will 100% be using Oak Mortgages again in the future (and hopefully Alex!). Thank you so much!
  
 
      Posted on Google  
   
   Alannah McNaughton 
 
 
 
 Trustindex verifies that the original source of the review is Google. Abby Malcolm was fantastic. Work quickly to find me a great rate and explained everything I needed to know. Highly recommend her :)
  
 
      Posted on Google  
   
   DanielaDany Zavaliche 
 
 
 
 Trustindex verifies that the original source of the review is Google. They are a very good and friendly team. I am very proud of them. Well done!
  
 
  
  
 
     Verified by Trustindex  Trustindex verified badge is the Universal Symbol of Trust. Only the greatest companies can get the verified badge who has a review score above 4.5, based on customer reviews over the past 12 months. Read more

0330 232 0285

0330 232 0285

0330 232 0285

10 strange and funny mortgage facts through history: 1

Ready to start your process?

Clever Mortgages is now part of Oak Mortgages Limited.

Reviews • Excellent