UK Mortgage Repayment Calculator
Work out your monthly mortgage repayment, total interest and loan-to-value, and see how overpaying could shorten the term and save interest.
- Amount borrowed
- £0
- Loan to value
- –
- Total interest
- £0
- Total repaid
- £0
- Interest-only payment
- £0
- Interest saved by overpaying
- £0
| Year | Interest paid | Capital repaid | Balance at year end |
|---|
How the monthly payment is worked out
For a repayment mortgage, each month’s interest is charged on the remaining balance. Your payment is fixed so that, after the chosen number of years, nothing is left to pay. Early payments are mostly interest and later ones mostly capital.
The interest-only figure shows what you would pay each month if you only covered the interest and never reduced the loan. Interest-only mortgages need a credible plan to repay the capital.
Things this calculator does not include
- Stamp duty. Use the stamp duty calculator.
- Arrangement, valuation and legal fees.
- Rate changes at the end of a fixed period.
- Buildings insurance, ground rent or service charges.
Use the Money Helper mortgage guidance for impartial help.
Frequently asked questions
How is the monthly mortgage payment calculated?
The calculator uses the standard repayment formula with the annual rate divided by 12, which matches how most UK lenders quote mortgage rates. The payment is set so the balance reaches zero at the end of the term.
Why will my real payment differ?
Most UK deals fix the rate for 2 to 5 years and then move to a variable rate, so the payment changes. Lenders may also add fees to the loan or round payments.
What is loan to value (LTV)?
LTV is the loan as a percentage of the property price. A lower LTV, meaning a bigger deposit, usually unlocks cheaper rates.
Can I overpay my mortgage?
Most fixed deals allow overpayments of up to 10% of the balance a year without charge. Check your offer for early repayment charges before overpaying.
These results are estimates for general information only and are not financial or tax advice. See our disclaimer.