Meaning of “endowment mortgage” in the English Dictionary

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"endowment mortgage" in British English

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endowment mortgagenoun [ C ]

uk /ɪnˌdaʊ.mənt ˈmɔː.ɡɪdʒ/ us /ɪnˌdaʊ.mənt ˈmɔːr.ɡɪdʒ/

an arrangement in which you have an endowment policy that provides the money you need in order to buy a house

(Definition of “endowment mortgage” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"endowment mortgage" in Business English

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endowment mortgagenoun [ C ]

uk us UK PROPERTY, BANKING

a mortgage (= a loan to buy a house) on which you pay only the interest, and also have an endowment (= insurance policy) that is intended to provide the money to pay back the mortgage in the future:

You are not entitled to assistance on any capital payments, i.e. to pay the premiums on an endowment mortgage.

(Definition of “endowment mortgage” from the Cambridge Business English Dictionary © Cambridge University Press)