Meaning of “repayment mortgage” in the English Dictionary

business-english dictionary

"repayment mortgage" in Business English

See all translations

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.

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