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单词 pension mortgage
释义

Definition of pension mortgage in English:

pension mortgage

noun
  • A mortgage in which the borrower repays interest only and also contributes to a pension plan designed to provide an eventual tax-free lump sum, part of which is used to repay the capital at the end of the mortgage period and the rest to provide a pension for the borrower's retirement.

    Example sentencesExamples
    • Although similar to endowment mortgages, a pension plan backs a pension mortgage instead of an endowment policy.
    • The capital is eventually paid back through capital appreciation or an endowment / pension mortgage policy.
    • You can either pay a little at a time as you go (repayment mortgage) or pay it all off at the end (pension mortgages).
    • Acquiring property through a pension vehicle has been possible for several years but was usually confined to self-employed professionals and others who might, for example, have acquired their business premises via a pension mortgage.
    • The self-employed can also use a personal pension to fund a pension mortgage; the tax advantages are very significant.
 
 
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更新时间:2024/12/23 13:40:40