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WHAT DOES ENDOWMENT MORTGAGE MEAN IN ENGLISH?
An endowment mortgage is a mortgage loan arranged on an interest-only basis where the capital is intended to be repaid by one or more endowment policies. The phrase endowment mortgage is used mainly in the United Kingdom by lenders and consumers to refer to this arrangement and is not a legal term. If the individual dies during the endowment mortgage period then the mortgage provider retains the property. The borrower has two separate agreements. One with the lender for the mortgage and one with the insurer for the endowment policy. The arrangements are distinct and the borrower can change either arrangement if they wish. In the past the endowment policy was often taken as an additional security by the lender. That is, the lender applied a legal device to ensure the proceeds of the endowment were made payable to them rather than the borrower; typically the policy is assigned to the lender. This practice is uncommon now.
Definition of endowment mortgage in the English dictionary
The definition of endowment mortgage in the dictionary is 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.
The translations of endowment mortgage from English to other languages presented in this section have been obtained through automatic statistical translation; where the essential translation unit is the word «endowment mortgage» in English.
List of principal searches undertaken by users to access our English online dictionary and most widely used expressions with the word «endowment mortgage».
FREQUENCY OF USE OF THE TERM «ENDOWMENT MORTGAGE» OVER TIME
The graph expresses the annual evolution of the frequency of use of the word «endowment mortgage» during the past 500 years. Its implementation is based on analysing how often the term «endowment mortgage» appears in digitalised printed sources in English between the year 1500 and the present day.
Examples of use in the English literature, quotes and news about endowment mortgage
10 ENGLISH BOOKS RELATING TO «ENDOWMENT MORTGAGE»
Discover the use of endowment mortgage in the following bibliographical selection. Books relating to endowment mortgage and brief extracts from same to provide context of its use in English literature.
The Law of Investor Protection
The endowment mortgage is the classic example of an interest-only 9-002
mortgage packaged with an investment product. Under this type of mortgage, the
borrower is required to maintain an endowment policy on his own life for a term of
Back | Home | Up | Next An endowment mortgage is a mortgage arranged on an
interest-only basis where the capital is intended to be repaid by one or more
endowment policies. The phrase endowment mortgage is used mainly in the
Nicolae Sfetcu, 2014
Personal Finance and Investments: A Behavioural Finance ...
An endowment mortgage involves paying interest only on the mortgage debt,
which is paid off at maturity from the proceeds of an endowment policy.The
equation for an endowment is: M p[(1y)T 1]/ y where M sum to be accumulated p
Keith Redhead, 2008
ENDOWMENT MORTGAGE Generally An endowment mortgage, by contrast,
operates on the basis that the borrower will repay only interest on the money
which he has borrowed from the lending institution and never pays a penny of the
Studies in Building Society Activity 1982-83
Borrowers with an endowment mortgage frequently arrange a combination of
annuity and endowment loans when they move house, with any additional
amount borrowed repaid by the annuity method. The most striking feature of the
table is ...
Mark Boleat ed.
Managing your money
The most usual are: • Endowment mortgages • Pension mortgages Endowment
Mortgages An endowment mortgage means that you take out an endowment life
assurance policy for the term of the loan and for the amount you borrowed.
John Whiteley, 2007
Mortgage Market (RLE Banking and Finance): Theory and ...
Monthly repayments under the two types of system are now broadly similar, but
each has its advantages and disadvantages. The endowment mortgage offers
the possibility of a lump sum at the end of the term, even after the debt has been ...
Mark J. Boleat, Adrian Coles, 2012
Investing in Mortgage Securities
Although one is protected from increases in interest rates. one also will not
benefit from any decreases in market rates. Interest rate collar variants of this
mortgage are available too. An endowment mortgage is also an interest-only
Laurence G. Taff, 2002
A Practical Approach to Conveyancing
... without dependants who is looking for the lowest monthly mortgage cost would
be well advised to consider this type of mortgage. Endowment mortgage An
endowment mortgage is generally more expensive than an ordinary repayment.
Robert Abbey, Mark Richards, 2013
Conveyancing Law & Practice
The policy can then be used to support an endowment mortgage on the new
home. However, another disadvantage, if a more expensive property is bought
with a larger loan an additional endowment policy will have to be taken out to
Michael Harwood, 1996
10 NEWS ITEMS WHICH INCLUDE THE TERM «ENDOWMENT MORTGAGE»
Find out what the national and international press are talking about and how the term endowment mortgage is used in the context of the following news items.
Tributes to Peterborough man killed in London 7/7 bombings …
At the time of the terrorist attack Mr Adams had recently started a new job as an endowment mortgage advisor for Deloittes, in The Strand. «Peterborough Telegraph, Jul 15»
Nottingham eviction fight man Tom Crawford charged
Mr Crawford claimed he had paid off the endowment mortgage he took out in 1988, adding the terms were changed without his knowledge. «BBC News, Jul 15»
Aviva charges £7000 interest on a loan we didn't know about
Around 1990 we took out an endowment mortgage, the endowment element being provided at the time by Norwich Union, now Aviva. «The Guardian, Jun 15»
Shed Of The Week: Volvo 480 ES
... idea of living with mid-1980s advanced automotive electronics is about as appealing as the idea of signing up for an endowment mortgage. «Pistonheads.com, Jun 15»
Is equity release the answer to an interest-only shortfall?
In 2017/18 the FCA predicts that the first wave will hit, and be typified by those who took out a low cost endowment mortgage in the 1990s and ... «Mortgage Finance Gazette Online, Jun 15»
Rotten returns, rip-off fees, complex charges: Dinosaur accounts that …
Commission-hungry salesmen often sold them as a way to pay off the capital loan on an interest-only endowment mortgage or as pension ... «This is Money, May 15»
Margaret Thatcher's deregulation of the City a myth, says thinktank
I bought an endowment mortgage, signed up for "retire at 50 private pension plans" and platinum credit cards. I watched people give up their ... «The Guardian, May 15»
Nottingham's Tom Crawford loses eviction battle
Mr Crawford, 64, who has been treated for cancer, claimed he had paid off the endowment mortgage he took out in 1988, but the terms of his ... «BBC News, May 15»
Tom Crawford's eviction ruling delayed after court is mobbed by …
The cancer sufferer claims he has paid off the endowment mortgage he took out in 1988 and the terms of his mortgage were changed without ... «Daily Mail, May 15»
My golden years: Rowing champion Matthew Pinsent on how he …
Taking out an endowment mortgage in the early 1990s. It's going to mature in two or three years at about 50 per cent of the amount it was ... «This is Money, Apr 15»
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