Meaning of “repayment mortgage” in the English Dictionary

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"repayment mortgage" in Business English

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repayment mortgagenoun [ C ]

uk ​ us ​ 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.

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endowment mortgage

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

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