| 单词 | endowment mortgage |
| 释义 | endowment mortgage endowment mortgage A mortgage in which repayment of the principal is made principally by means of an endowment assurance policy. In the 1980s and 1990s, many first-time home buyers in the UK were encouraged to take out this form of mortgage (which earns the mortgagor’s agent an immediate commission from the life cover provider). However, with the subsequent poor performance of investments on the stock exchange, many endowment mortagees are facing a shortfall in the principal at the end of the mortgage’s life; in some cases, the courts have ordered the mortgage provider to compensate the mortgagee, on the grounds that the policy was mis-sold. As a result of these problems endowment mortgages are now rarely sold. |
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