What is housing loan ?

housing loan" means an agreement for credit on the security of a mortgage of a freehold or leasehold estate or interest in a house where

( a ) the loan is made for the purpose of enabling the borrower to provide or improve the house or to purchase the said estate or interest, or

( b ) the loan is made for the purpose of refinancing a loan within the meaning of paragraph (a), or

( c ) the house is to be used or to continue to be used as the principal residence of the borrower or his dependants;