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endowment mortgage

Line breaks: en¦dow|ment mort|gage

Definition of endowment mortgage in English:

noun

British
A mortgage linked to an endowment insurance policy which is intended to repay the capital sum on maturity.
Example sentences
  • 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.

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