Entry from British & World English dictionary
Definition of endowment mortgage in English:
A mortgage linked to an endowment insurance policy which is intended to repay the capital sum on maturity.
- For the first time buyer this choice will be between an annuity mortgage and an endowment mortgage.
- In an endowment mortgage, a mortgage loan is combined with a separate savings scheme.
- Investors who bought an endowment mortgage and are unhappy with its performance due to poor stock markets may consider switching to an ordinary repayment mortgage.
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.