What kind of mortgage covers more than one piece of property?

A blanket mortgage is a type of loan that allows the borrower to encumber multiple properties under a single mortgage. This is particularly advantageous for developers or investors who own several pieces of real estate, as it streamlines the financing process. With a blanket mortgage, the borrower can manage multiple properties more efficiently by consolidating them into one mortgage, which can simplify both payments and administration.

This type of mortgage typically includes a "partial release" clause, meaning that as properties are sold or refinanced, they can be released from the mortgage without needing to pay off the entire loan. This flexibility is beneficial for real estate investors looking to optimize their portfolios or reduce debt as they sell off individual properties.

In contrast, the other types of mortgages listed do not specifically offer coverage for multiple properties in the same way that a blanket mortgage does. A secured mortgage typically refers to a loan backed by collateral, while a subordinate mortgage is a second loan taken against a property that is already mortgaged. A shared equity mortgage involves different arrangements concerning ownership and profit-sharing rather than covering multiple properties under a single loan.