repayment mortgage Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “repayment mortgage” in the English Dictionary

"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 (= ​amountborrowed) and the ​interest: a 20-year/25-year, etc. repayment mortgage On a £100,000 25-year ​repaymentmortgage, you'll ​pay £561 ​per month.take out a repayment mortgage I ​recommend that she ​takes out a ​repaymentmortgage.
(Definition of repayment mortgage from the Cambridge Business English Dictionary © Cambridge University Press)
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