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repayment mortgage

From Wiktionary, the free dictionary

English

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Noun

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repayment mortgage (plural repayment mortgages)

  1. (finance) A type of mortgage (typically a loan to buy a house) in which, over the term of the loan, the borrower gradually repays the loan principal, in addition to paying interest, so that at the end of the term the principal is wholly repaid.
    Coordinate term: endowment mortgage
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