| 单词 | endowment mortgage |
| 释义 | endowment mortgage A mortgage in which repayment of the principal is made principally by means of an endowment assurance policy. In the UK in the 1980s and 1990s, many first-time home buyers 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, rather than looking forward to a profit from the life fund once the principal has been repaid, are facing a shortfall in the principal at the end of the mortgage's life. Compare: |
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