Are these results guaranteed?

No—figures are guides only and not financial advice. Lender assessments, product fees and eligibility will affect final repayments.

Mortgage Repayment Calculator (UK)

Q: How are monthly mortgage repayments calculated?

They’re based on the loan amount, interest rate and term using an amortisation formula so each monthly payment is the same, with interest reducing over time as the balance falls.

Q: What interest rate should I use?

Use a realistic rate for your situation (e.g., current lender or product rate). Rates vary by deposit, credit profile and product type—results are estimates only.

Q: What’s the difference between repayment and interest-only?

Repayment mortgages pay off capital and interest each month so the balance reduces to £0 by the end of term. Interest-only pays interest only; the capital remains outstanding and needs a repayment plan.

Q: Can I model overpayments?

Yes. Enter a monthly overpayment to see an indicative shorter term and interest saved. Early repayment charges may apply depending on the product.

Estimate your monthly mortgage payments in seconds. Enter your loan, rate and term to see repayments, total interest and the impact of overpayments. Figures are guides only and not advice.

Work Out Your Monthly Mortgage Payments

Mortgage Repayment Calculator

Property Price (£)

Deposit (£)

Leave loan below blank to auto-calc: price − deposit.

Loan Amount (£)

Interest Rate (% p.a.)

Term (years)

Monthly Overpayment (£)

Repayment Type

Repayment (capital & interest) Interest-only

These figures are only illustrative. All mortgages are subject to the applicant(s) meeting the eligibility of the specific lender. An assessment of your needs will be confirmed before a recommendation can be made.

Worked Examples

Example 1: £250,000 loan, 5% rate, 25 years (repayment)

Monthly ≈ £1,461. Total interest ≈ £187,000. Total repaid ≈ £437,000.

Example 2: £300,000 loan, 5% rate, interest-only

Monthly ≈ £1,250. Capital of £300,000 still outstanding at end of term.

Example 3: £200 overpayment on Example 1

Paying an extra £200/mo could cut years off the term and save tens of thousands in interest (exact saving depends on rates staying the same).

FAQs: Mortgage Repayments Explained

How are monthly mortgage repayments calculated?

They’re based on loan amount, interest rate and term using an amortisation formula so payments stay level while interest reduces over time.

What interest rate should I use?

Use a realistic product rate for your situation. Results are estimates; lender pricing varies by LTV, credit profile and product features.

What’s the difference between repayment and interest-only?

Repayment pays capital + interest each month so the balance falls. Interest-only covers interest only; you’ll need a plan to repay the capital.

Can I model overpayments?

Yes — enter a monthly overpayment to see an indicative shorter term and interest saved. Early repayment charges may apply to some products.

Are these figures guaranteed?

No. They’re guides, not advice. Product fees, ERCs and underwriting may change the final payments. Speak to an adviser for personalised quotes.

Related Mortgage Advice

Bad Credit Mortgages Shared Ownership Remortgages Purchase Mortgages Customer Reviews Mortgage Blog

Ready to get tailored mortgage advice?

Share your numbers and we’ll help you find suitable products and explain the true cost over time.

Speak to a Mortgage Adviser

Need Help?