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Definition of endowment mortgage in English: endowment mortgagenoun British A mortgage linked to an endowment insurance policy which is intended to repay the capital sum on maturity. Example sentencesExamples - So what action should you take if you have an endowment mortgage that may well fall short of the amount required to pay off the loan on your home?
- Investors who bought an endowment mortgage and are unhappy with its performance due to poor stock markets may consider switching to an ordinary repayment mortgage.
- The endowment mortgage became popular because it was the most efficient way to borrow.
- For the first time buyer this choice will be between an annuity mortgage and an endowment mortgage.
- So if you have an endowment mortgage that could leave you facing a shortfall on the purchase price of your home by the time your policy matures, what should you do?
- Homeowners with an endowment mortgage who think their policy was mis-sold are being urged to complain - before it is too late, writes David Budworth.
- When the housing market peaked in 1988, when 2.3 million people bought a home, virtually every sale was backed by a with-profits endowment mortgage.
- Mortgage advisers got paid much more commission if they sold an endowment mortgage rather than suggesting a repayment mortgage.
- In an endowment mortgage, a mortgage loan is combined with a separate savings scheme.
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