an endowment mortgage is an endowment policy attached to a mortgage to provide money to pay for a house. A person with an endowment mortgage pays the mortgage interest plus money towards the endowment policy every month, but does not pay off any of the loan until the endowment policy matures.
More than half of endowment mortgage policies are showing shortfalls.
an endowment policy is an arrangement where a sum of money is paid into a fund regularly so that you will receive a large sum of money at a fixed date in the future, or following your death
Few of the policyholders were warned of the risk that the endowment policy might not pay off the loan.
money or property left to provide an income; the action of leaving or giving this money or property
This section applies to any available endowment fund of a charity which is not a company or other body corporate.