endowment mortgage


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Related to endowment mortgage: Endowment policy

endowment mortgage

n
(Insurance) an arrangement whereby a person takes out a mortgage and pays the capital repayment instalments into a life assurance policy and only the interest to the mortgagee during the term of the policy. The loan is repaid by the policy either when it matures or on the prior death of the policyholder
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References in periodicals archive ?
QI have concerns about an endowment mortgage I took out in 1990.
IF you are old enough to remember the 1990s and you had a mortgage then you almost definitely had an endowment mortgage.
Buying a house with an endowment mortgage in the early '90s was surely one of the best investments ever.
Investigators are offering up to pounds 48,000 in compensation to anyone mis-sold an endowment mortgage or other investment by either of the companies.
But with an endowment mortgage, you borrow the money from the bank and buy the house in the same way.
Should I change my endowment mortgage to a current account one and deposit the full amount to my loan?
He came to see us after his company contacted us after our endowment mortgage had a shortfall.
It currently has 10 of its 23 ombudsmen working on endowment mortgage cases, and they are upholding around 40% of complaints.
The Financial Services Authority has decided to extend the deadline for those with an endowment mortgage to take their case to the ombudsman.
This one goes back to the great endowment mortgage mis-selling affair, which eventually cost the life assurance fraternity (those that could be found) hundreds of millions.
Margaret and Allan Lewis were advised by Lloyds TSB in 1988 to buy their house with an endowment mortgage.
It said the jump reflected the huge number of people who thought they had been mis-sold an endowment mortgage.