tʃˈæɾəl mˈɔːɹɡɪdʒᵻz ɪn ˈɪŋɡlənd ænd wˈeɪlz ɑːɹ sˈiːn æz ɐ fˈɔːɹm ʌv sᵻkjˈʊɹɹᵻɾi ˈɪntɹɛst ɔːɹ "kəlˈæɾɚɹəl"fɔːɹ lˈɛndɚz ɪn sˈɜːʔn̩ faɪnˈænsɪŋ sənˈæɹiˌoʊz.
Chattel mortgages in England and Wales are seen as a form of security interest (or "collateral") for lenders in certain financing scenarios.