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Glossary > G > "Graduated payment mortgage" Definition

Graduated payment mortgage

A mortgage scheme in which monthly payments commence at a lower level and increase over a period of a few years to a higher level which is subsequently maintained.

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Graduated payment mortgage - A mortgage scheme in which monthly payments commence at a lower level and increase over a period of a few years to a higher level which is subsequently maintained.

Graduated payment mortgage : a mortgage scheme in which monthly payments commence at a lower level and increase over a period of a few years to a higher level which is subsequently maintained.