Repayment mortgage

Repayment mortgage,

Definition of Repayment mortgage:

  1. Loan arrangement where the principal is amortized over the life of the loan. Compare with endowment mortgage.

  2. A mortgage in which the borrower repays the capital and interest together in fixed instalments over a fixed period.

How to use Repayment mortgage in a sentence?

  1. While I note that you have converted your mortgage from an endowment mortgage to a repayment mortgage, it is not clear whether your lender is relying on the endowment policy to provide life cover for your mortgage.

Meaning of Repayment mortgage & Repayment mortgage Definition