Definition of endowment mortgage in English:

endowment mortgage


  • A mortgage linked to an endowment insurance policy which is intended to repay the capital sum on maturity.

    • ‘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.’
    • ‘The endowment mortgage became popular because it was the most efficient way to borrow.’
    • ‘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.’
    • ‘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.’
    • ‘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?’
    • ‘For the first time buyer this choice will be between an annuity mortgage and an endowment mortgage.’
    • ‘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?’
    • ‘In an endowment mortgage, a mortgage loan is combined with a separate savings scheme.’


endowment mortgage