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English definition of “repayment mortgage”

repayment mortgage

noun [C]
 
 
BANKING, PROPERTY
in the UK, a mortgage on which you pay back both the capital (= amount borrowed) and the interest: a 20-year/25-year, etc. repayment mortgage On a £100,000 25-year repayment mortgage, you'll pay £561 per month.take out a repayment mortgage I recommend that she takes out a repayment mortgage.
→ Compare endowment mortgage
(Definition of repayment mortgage from the Cambridge Business English Dictionary © Cambridge University Press)
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