With-profits Endowment
A with-profit endowment is a fixed term investment with life cover. It means that your monthly premiums are pooled together and invested for you by a life insurance company.
The policy will have a basic sum assured which bonuses are added to, to build up a cash sum. This should be enough at the end of the term to repay the mortgage.
Click for more mortgage glossary terms relating to remortgaging.