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pension mortgage |
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pension mortgage n (Economics, Accounting & Finance / Banking & Finance) an arrangement whereby a person takes out a mortgage and pays the capital repayment instalments into a pension fund and the interest to the mortgagee. The loan is repaid out of the tax-free lump sum proceeds of the pension plan on the borrower's retirement How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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