Definition of pension mortgage in English:

pension mortgage

Line breaks: pen|sion mort|gage

Entry from British & World English dictionary

noun

A mortgage in which the borrower repays interest only and also contributes to a pension plan designed to provide an eventual tax-free lump sum, part of which is used to repay the capital at the end of the mortgage period and the rest to provide a pension for the borrower’s retirement.

Definition of pension mortgage in:

Get more from Oxford Dictionaries

Subscribe to remove adverts and access premium resources

Word of the day vituperate
Pronunciation: vɪˈtjuːpəreɪt
verb
blame or insult (someone) in strong language...