Definition of endowment mortgage in English:

endowment mortgage

Line breaks: en¦dow|ment mort|gage

noun

British
  • A mortgage linked to an endowment insurance policy which is intended to repay the capital sum on maturity.
    More 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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Word of the day skosh
Pronunciation: skōSH
noun
a small amount; a little