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UK Mortgage Calculator

See your monthly mortgage repayment, how much interest you will pay and your loan-to-value, for a repayment or interest-only mortgage, and how overpaying shortens your term.

£
£

10% deposit · 90% loan-to-value

%
years
More options· Repayment
£

Added to every repayment

Monthly repayment

£1,500.75

£270,000 loan over 25 years

Total interest
£180,224
Total repaid
£450,224
What you pay over the loan
  • Amount borrowed£270,000
  • Interest£180,224

What this means

Over 25 years you’d pay £180,224 in interest, on top of the £270,000 you borrow, if the rate stayed the same.

Early on most of each repayment is interest, so overpaying a little each month cuts the total and the time it takes. Check for early repayment charges on fixed rates first.

Next step

Principal and interest paid each year
£18,009£9,005£0
13691215182124
PrincipalInterest
Assumptions in this estimate
  • Assumes the same interest rate for the whole term. Most UK mortgages are fixed for 2 to 5 years, then move to the lender’s standard variable rate unless you remortgage.
  • Stamp Duty, arrangement fees and other buying costs are not included.
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How your repayment is calculated

Your monthly repayment pays the interest on your mortgage plus part of the balance, so that the loan is fully repaid by the end of the term. Early on, most of each payment is interest; later, most of it repays the loan. The chart shows how this changes year by year.

Fixed rates and remortgaging

Most UK mortgages are fixed for two to five years. When the fixed period ends you move to the lender’s standard variable rate unless you remortgage to a new deal. This calculator uses one rate for the whole term, so try a few rates to see how your repayment could change.

Other costs of buying

Stamp Duty Land Tax (Land and Buildings Transaction Tax in Scotland, Land Transaction Tax in Wales), solicitor’s fees, surveys and mortgage arrangement fees are not included.

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Frequently asked questions

How much is a £250,000 mortgage a month?

Over 25 years at 4.5%, a £250,000 repayment mortgage costs about £1,390 a month, and you pay about £167,000 in interest. On an interest-only basis it costs about £938 a month, but you still owe the £250,000 at the end.

What is loan-to-value (LTV)?

LTV is your mortgage as a share of the property's value. A £270,000 mortgage on a £300,000 home is 90% LTV. Lenders usually offer lower rates at 60%, 75%, 85% and 90% LTV, so a bigger deposit can cut your rate as well as your loan.

Should I overpay my mortgage?

Overpaying reduces the balance that interest is charged on, so it shortens your term and saves interest. Most fixed-rate deals let you overpay up to 10% of the balance each year without an early repayment charge. Check your lender's terms first.

What is the difference between repayment and interest-only?

With a repayment mortgage each payment covers interest and part of the loan, so you own your home outright at the end. With interest-only you pay just the interest, so payments are lower but the whole loan is still owed at the end of the term.