Mortgage Repayment Calculator
Estimate your monthly mortgage repayments, total interest and overall repayment cost based on your property price, deposit, interest rate and mortgage term.
Estimate your monthly mortgage payment
Enter the property price, deposit, mortgage interest rate and repayment term to see an estimated monthly repayment and total borrowing cost.
The purchase price of the property.
The amount you plan to contribute towards the purchase.
The annual mortgage interest rate you want to estimate with.
How many years you plan to repay the mortgage over.
What affects your mortgage repayments?
Your monthly mortgage repayment is mainly influenced by how much you borrow, the interest rate charged and how long you take to repay the loan.
Increasing your deposit reduces the amount you need to borrow and lowers your loan-to-value ratio.
A lower mortgage rate generally reduces both your monthly repayment and the total interest paid.
Extending the term can reduce the monthly payment but may increase the total interest paid over the mortgage.
How we estimate your mortgage repayment
The calculator uses a standard repayment mortgage formula to estimate the monthly payment required to repay the mortgage over the selected term.
Calculate the mortgage amount
We subtract your deposit from the property price to estimate how much you need to borrow.
Calculate the monthly repayment
We use the mortgage amount, interest rate and term to estimate the required monthly capital-and- interest repayment.
Estimate the total cost
We calculate the estimated amount repaid over the full term and the portion representing mortgage interest.
What this mortgage estimate assumes
To provide a straightforward estimate, the calculator uses a standard repayment mortgage model. Your actual mortgage may work differently.
The interest rate entered is assumed to remain unchanged for the entire mortgage term.
The calculator assumes a standard capital-and-interest repayment mortgage rather than an interest-only mortgage.
The estimate assumes payments are made monthly throughout the selected mortgage term.
Arrangement fees, valuation fees, legal costs, insurance and other costs are not included.
What could a £270,000 mortgage cost?
Here is an illustrative example for a £300,000 property with a £30,000 deposit, leaving a £270,000 repayment mortgage.
This is an illustrative estimate for a repayment mortgage. Actual payments may differ depending on the lender, mortgage product, fees and future interest-rate changes.
Mortgage repayment FAQs
Common questions about mortgage repayments and using this calculator.
How are mortgage repayments calculated?
For a standard repayment mortgage, each monthly payment includes interest and a contribution towards repaying the amount borrowed. The repayment depends on the mortgage balance, interest rate and term.
Does a bigger deposit reduce my mortgage payment?
A larger deposit reduces the amount you need to borrow. If the interest rate and mortgage term remain the same, borrowing less will reduce the required monthly repayment.
What is loan-to-value?
Loan-to-value, or LTV, compares the mortgage amount with the property value. For example, borrowing £270,000 on a £300,000 property gives an LTV of 90%.
Does a longer mortgage term reduce monthly payments?
Spreading repayment over a longer period generally reduces the required monthly payment. However, because interest is charged for longer, the total interest paid may increase.
Does this calculator include mortgage fees?
No. The estimate does not include arrangement fees, valuation fees, legal costs, insurance or other mortgage-related charges.
Can I use this for an interest-only mortgage?
No. This calculator is designed for standard capital-and-interest repayment mortgages. Interest-only mortgages calculate monthly payments differently.
About this mortgage estimate
This calculator provides an illustrative mortgage repayment estimate based on the information you enter.
The calculator models a standard capital-and-interest repayment mortgage using the amount borrowed, annual interest rate and mortgage term.
View our methodology →Mortgage rates, fees and lending criteria vary between products and lenders. Check the terms of an actual mortgage before making financial decisions.
Important: This calculator is for general information and illustration only. It is not financial advice and does not constitute a mortgage offer.