Endowment Mortgage

Search for glossary terms (regular expression allowed)
Begin with Contains Exact termSounds like

Glossaries

Term Definition
Endowment Mortgage
An endowment life assurance policy is taken at the start of a mortgage. Throughout the term of the mortgage, payments made by the borrower cover only the interest due on the loan.

The capital sum borrowed is paid back in one lump sum at the end of the loan period, using the proceeds from an endowment policy taken out at the start of the mortgage