An endowment mortgage is a mortgage loan arranged on an interest-only basis where the capital is intended to be repaid by one or more (usually Low-Cost) endowment policies. The phrase endowment mortgage is used mainly in the United Kingdom by lenders and consumers to refer to this arrangement and is not a legal term. If the individual dies during ...
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http://en.wikipedia.org/wiki/Endowment_mortgage
An interest-only house purchase loan. With an associated endowment policy. The aim is to pay the outstanding capital at the end of the term and provide life assurance for the value of the capital on death before maturity. However for most endowment policies the final sum and repayment is not guaranteed.
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http://www.encyclo.co.uk/local/20185
An interest only mortgage supported by an endowment policy. During the term of the mortgage only interest on the mortgage is paid to the lender. At the same time premiums are paid into an endowment policy which is designed to mature at the end of the mortgage term. The proceeds of the endowment policy are designed to repay the mortgage debt, althou...
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http://www.encyclo.co.uk/local/20194
A kind of mortgage where only interest was repaid directly, with the original advance intended to be cleared by a stock market investment maturing at the end of the term
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http://www.encyclo.co.uk/local/20202
A mortgage arranged on the basis that the capital borrowed will be repaid from the proceeds of an Endowment policy.
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http://www.encyclo.co.uk/local/20912
This is usually from a building society where the mortgagee accepts interest only during the period of the loan and repayment of the capital is made from the sum produced on the maturity of an endowment assurance policy. A full endowment is where the sum assured is the amount of mortgage monies, and profits provide a sizeable sum in addition on maturity. On the other hand a low-cost endowment is where only part of the sum assured attracts profits and therefore the profits on maturity are not so great as a full endowment - hence the lower premium, i.e. lower cost.
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http://www.encyclo.co.uk/visitor-contributions.php
An interest-only mortgage ultimately repaid by the proceeds of an endowment assurance policy which... <a target=_blank href='http://www.finance-glossary.com/terms/endowment-mortgage.htm?id=470&ginPtrCode=00000&PopupMode=false' title='Read full definition of endowment mortgage'>more</a>
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http://www.finance-glossary.com/pages/home.htm
Interest only is paid over the term of this sort of mortgage and the capital is repaid at the end of the term by using the monies from an endowment policy.
Found on
https://www.encyclo.co.uk/local/21167
No exact match found.
