|
|
Endowment mortgage |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Endowment mortgageAn interest-only mortgage ultimately repaid by the proceeds of an endowment assurance policy which is assigned to the lender providing the mortgage. The policyholder pays the lender's interest only, for the term of the mortgage. The sum assured, which is payable on maturity or prior death of the policyholder, is used to repay the mortgage. Policies are usually with profits (or low cost endowment), unit linked or unitised with profits and sometimes this provides some additional capital for the policyholder after the lender has been repaid.Similar MatchesLow cost endowmentLow cost endowmentDesigned to accumulate the sum needed to pay after a given period, usually for the purpose of paying off a mortgage. However there are no guarantees and investors may have to increase their premiums to build up enough to pay off their mortgage. Pure endowmentPure endowmentA life assurance policy where the sum assured is paid if the life assured survives the term but in the event of prior death nothing is payable. Unit linked endowmentUnit linked endowmentYour monthly premiums are used to buy units in a fund or funds run by professional managers. Like unit trusts, the price of these units can go up and down, so the value of the endowment can constantly change. Income endowmentIncome endowmentAn endowment plan which carries an option at maturity for the proceeds to be paid in the form of a regular income. EndowmentEndowmentGift of money or property to a specified institution for a specified purpose. Further SuggestionsendowmentLow start endowment second hand endowment Non profit endowment Full with profit endowment Endowment Traded endowment policy (Tep) income pure endowment endowment assurance full endowment child deferred endowment endowment insurance Factor endowment Unitised with profit endowment unit linked endowment assurance |
|
|
|