repayment mortgage

Definition

Accounting

• noun a mortgage where the borrower pays back both interest and capital over the period of the mortgage. This is opposed to an endowment mortgage, where only the interest is repaid, and an insurance is taken out to repay the capital at the end of the term of the mortgage.

Nearby Definitions of “repayment mortgage”

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Contexts for “repayment mortgage”

1 definition in context
• Accounting