repayment mortgage

repayment mortgage
A mortgage where you pay off both the capital and interest each month until you've completely repaid the loan at the end of the pre-agreed term.

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repayment mortgage repayment mortgage mortgage1

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repayment mortgage UK US noun [C] BANKING, PROPERTY
in the UK, a mortgage on which you pay back both the capital (= amount borrowed) and the interest: a 20-year/25-year, etc. repayment mortgage »

On a £100,000 25-year repayment mortgage, you'll pay £561 per month.

take out a repayment mortgage »

I recommend that she takes out a repayment mortgage.

Compare ENDOWMENT MORTGAGE(Cf. ↑endowment mortgage)

Financial and business terms. 2012.

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Look at other dictionaries:

  • repayment mortgage — ► NOUN ▪ a mortgage in which the borrower repays the capital and interest together in fixed instalments over a fixed period …   English terms dictionary

  • Repayment mortgage — A repayment mortgage is a term generally used in the UK to describe a mortgage in which the monthly repayments consist of repaying the capital amount borrowed as well as the accrued interest. The mortgage statement, usually received annually,… …   Wikipedia

  • repayment mortgage — reˈpayment mortgage [repayment mortgage] noun (BrE) a type of ↑mortgage in which you pay regular sums of money to the bank, etc. until you have returned all the money and interest that you owe compare ↑ …   Useful english dictionary

  • repayment mortgage — /rɪ peɪmənt ˌmɔ:gɪdʒ/ noun a mortgage where the borrower pays back both interest and capital over the period of the mortgage (as opposed to an endowment mortgage, where only the interest is repaid, and an insurance is taken out to repay the… …   Dictionary of banking and finance

  • repayment mortgage — noun Brit. a mortgage in which the borrower repays the capital and interest together in fixed instalments over a fixed period …   English new terms dictionary

  • Continuous-repayment mortgage — Analogous to continuous compounding, a continuous annuity[1][2] is an ordinary annuity in which the payment interval is narrowed indefinitely. A (theoretical) continuous repayment mortgage is a mortgage loan paid by means of a continuous annuity …   Wikipedia

  • Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets …   Wikipedia

  • Mortgage life insurance — is a form of insurance specifically designed to protect a repayment mortgage. If the policyholder were to die while the mortgage life insurance was in force, the policy would pay out a capital sum that will be just sufficient to repay the… …   Wikipedia

  • mortgage — the transfer of right of ownership of a property from a debtor to a creditor as security for a debt, with the proviso that once the debt is paid ownership is transferred back. Glossary of Business Terms (1) noun A legal instrument that creates a… …   Financial and business terms

  • Mortgage — A loan secured by the collateral of some specified real estate property which obliges the borrower to make a predetermined series of payments. The New York Times Financial Glossary * * * ▪ I. mortgage mort‧gage 1 [ˈmɔːgɪdʒ ǁ ˈmɔːr ] noun… …   Financial and business terms

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