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endowment mortgage

British

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

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

As a state representative, she went after fraudulent mortgage bankers and helped hundreds of citizens prevent losing their homes to foreclosure.

From Fox News • Jan. 8, 2019

Department of Justice fine on that bank for fraudulent mortgage lending behavior during the U.S. housing market bubble.

From US News • Oct. 5, 2016

Prosecutors said that as the company began experiencing financial difficulties in September 2006, Clark engaged in more than $20 million in fraudulent mortgage transactions, while living a lavish lifestyle.

From Reuters • Dec. 11, 2015

Federal prosecutors had alleged that Leadbeater and others recruited “straw buyers” from New Jersey, New York, Ohio, Arkansas and California to submit fraudulent mortgage applications for condominiums in Wildwood and Wildwood Crest.

From Washington Times • Mar. 9, 2015

I have never given up the idea that some day I would reach the truth, and force Farrington to disgorge, just as we made him release the fraudulent mortgage.

From Ralph in the Switch Tower by Chapman, Allen

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023