pension mortgage

pen·sion mort·gage

P p

Definition of pension mortgage words

noun pension mortgage an arrangement whereby a person takes out a mortgage and pays the capital repayment instalments into a pension fund and the interest to the mortgagee. The loan is repaid out of the tax-free lump sum proceeds of the pension plan on the borrower's retirement 0

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A common word. It’s meaning is known to most children of preschool age. About 90% of English native speakers know the meaning and use the word.

Most Europeans know this English word. The frequency of it’s usage is somewhere between "mom" and "screwdriver".

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