endowment mortgage
noun
an arrangement whereby a person takes out a mortgage and pays the capital repayment instalments into a life assurance policy and only the interest to the mortgagee during the term of the policy. The loan is repaid by the policy either when it matures or on the prior death of the policyholder
Nearby words
endovasculitis, endow, endowment, endowment assurance, endowment insurance, endowment mortgage, endozoic, endpaper, endpin, endplate, endplay
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
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