UK mortgage calculator
Enter the price, your deposit, the interest rate and the term to see your monthly mortgage payment, the total interest, and what a change in rate would do.
Your mortgage payment
Enter the price, rate and term to see the result.
| Item | Amount |
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| Rate | Monthly payment |
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How the mortgage calculator works
Enter the property price and your deposit. The calculator works out how much you need to borrow, then your monthly payment from the interest rate and the number of years. It also shows your loan to value, which lenders use to decide which rates they will offer you, and the total interest you would pay.
The table underneath shows the same mortgage at a rate one percentage point lower and one higher, so you can see how sensitive your payments are to a change in rate.
Repayment and interest-only mortgages
With a repayment mortgage, each monthly payment covers the interest and pays off part of the loan, so you own your home outright at the end of the term. With an interest-only mortgage you pay only the interest each month, and you still owe the full loan at the end. Interest-only mortgages need a clear plan for repaying the loan, and lenders set strict rules about who can have one.
Your deposit and loan to value
Loan to value, or LTV, is the loan as a percentage of the property price. A bigger deposit means a lower LTV, and lenders generally offer better rates at lower LTVs, with common steps at 90%, 85%, 75% and 60%. Most lenders ask for a deposit of at least 5%.
Costs beyond the monthly payment
Buying a home also costs money up front. Use our stamp duty calculator for the tax on your purchase, and allow for legal fees, a survey and any arrangement fee your lender charges. Once you have a mortgage, our overpayment calculator shows how paying extra could save interest.
What this calculator assumes
- The interest rate stays the same for the whole term. Most people take a fixed deal for two to five years and then move to a new rate, so your payment is likely to change.
- Interest is worked out monthly on the balance. Lenders vary, so their figures can differ slightly.
- Fees, insurance, stamp duty and early repayment charges are not included.
- The result is an estimate. A lender or broker can give you exact figures for a real deal.
Questions people ask
How much is the monthly payment on a £200,000 mortgage?
It depends on the rate and the term. Enter a price and deposit that give a £200,000 loan, then change the rate and years to see how much the payment moves. A longer term lowers the monthly payment but increases the total interest.
How much deposit do I need?
Most lenders ask for at least 5% of the price. A larger deposit gives you access to cheaper rates and lowers your payments, so it is worth saving more if you can.
Is a longer mortgage term better?
A longer term gives you a lower monthly payment, which can help affordability, but you pay much more interest overall. Many people choose a longer term and then overpay when they can. Try different terms in the calculator to see the trade-off.
What happens when my fixed rate ends?
You usually move to your lender's standard variable rate unless you choose a new deal, and that is often higher. Many people remortgage or switch to a new product a few months before the end. The rate comparison table in the calculator shows what a higher rate could do to your payment.
Is what I type stored or shared?
No. The calculation runs in your browser and nothing you enter is sent to us. Our privacy page has the details.
Is this financial advice?
No. It gives an estimate for information only. For advice on a mortgage, speak to a regulated mortgage adviser or broker.