Definition of endowment mortgage in English:

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endowment mortgage

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.

For editors and proofreaders

Line breaks: en¦dow|ment mort|gage

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