Free calculator
Mortgage repayment calculator
See your estimated monthly repayments on a UK mortgage. Adjust the price, deposit, interest rate and term to understand exactly what a home would cost you each month — before you start viewing.
Estimated monthly repayment
£1,501
- Loan amount
- £270,000
- Total interest
- £180,224
- Total repaid
- £450,224
Estimate only, on a capital-and-interest (repayment) basis at a fixed rate. Your actual rate, fees, and eligibility depend on the lender.
How a repayment mortgage works
Most UK homebuyers take a repayment mortgage. Every month you pay back some of the money you borrowed plus interest on the balance that’s left. Early on, most of your payment is interest; as the balance shrinks, more of each payment chips away at the loan itself. By the end of the term — typically 25 to 35 years — you own the home outright.
Three things move your monthly payment the most: the size of your loan (price minus deposit), the interest rate, and the term. A longer term lowers the monthly payment but increases the total interest you pay over the life of the loan.
A worked example
On a £300,000 home with a £30,000 deposit, you’d borrow £270,000. At 4.5% over 25 years that’s roughly £1,500 a month. Stretch the term to 30 years and the monthly figure falls, but you’ll pay more interest in total. Try both in the calculator above to see the trade-off.
Frequently asked questions
How are monthly mortgage repayments calculated?
On a repayment (capital-and-interest) mortgage, each monthly payment covers the interest for that month plus a slice of the amount you borrowed. The calculator uses the standard formula based on your loan size, interest rate and term, so by the end of the term the balance reaches zero.
What deposit do I need for a UK mortgage?
Most lenders want at least 5–10% of the property price, and a bigger deposit usually unlocks lower interest rates. Use the deposit field to see how a larger deposit reduces both your loan and your monthly payment.
Does this calculator include interest rate changes?
No — it assumes a single fixed rate for the whole term, which keeps the estimate simple. In reality most UK mortgages are fixed for an initial period (often 2–5 years) and then move to the lender’s variable rate, so your payment can change.
Is the result a mortgage offer?
No. It’s an illustration to help you budget. A lender will assess your income, outgoings, credit history and the property itself before making a formal offer. For the budgeting side, our affordability calculator estimates how much you could borrow.
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