Calculate your monthly mortgage repayments. Enter the property price, deposit, interest rate, and term to see your full repayment breakdown.
10.0% deposit · 90.0% LTV
Monthly Payment
£1,500.75
per month
Total Repayable
£450,224.31
over full term
Total Interest
£180,224.31
cost of borrowing
Your monthly payment covers both interest and a portion of the capital (loan amount). Early on, most of your payment is interest. This gradually shifts so you repay more capital over time.
LTV (Loan-to-Value) is your mortgage as a percentage of the property value. A lower LTV (bigger deposit) typically unlocks better interest rates. Below 60% LTV usually gets the best deals.
A fixed rate keeps your payment the same for 2–5 years. A variable (tracker) rate can go up or down. Fixed rates give certainty; variable can be cheaper but carries risk.
Even small regular overpayments dramatically reduce the total interest paid and shorten your mortgage term. Many lenders allow up to 10% overpayment per year without penalty.
Remember to budget for stamp duty, solicitor fees, survey costs, and arrangement fees on top of your deposit. These can add 2–4% to the total upfront cost of buying.
When your fixed term ends, your rate usually reverts to the lender's Standard Variable Rate (SVR), which is often much higher. Remortgaging at that point can save a significant amount each month.
Calculate monthly mortgage repayments, total interest paid, and the full cost of your mortgage. Works for any property price, deposit, interest rate, and term.
£300,000 property, £60,000 deposit (20%), 4.5% rate, 25 years
Monthly: approx £1,333 | Total interest: approx £100,000
£200,000 property, £20,000 deposit (10%), 5.0% rate, 30 years
Monthly: approx £966 | Total interest: approx £147,700
£450,000 property, £90,000 deposit (20%), 4.0% rate, 25 years
Monthly: approx £1,897 | Total interest: approx £129,100
Monthly repayment formula
Monthly payment: approximately £1,169
The word 'mortgage' comes from Old French meaning 'death pledge' — the debt is extinguished (dies) either when repaid in full or when the borrower defaults. Fixed-rate mortgages became mainstream in the UK in the 1990s; before that, virtually all mortgages tracked the Bank of England base rate.
Enter the loan amount, interest rate, and term. The calculator applies the standard amortisation formula to show your exact monthly payment, total interest paid, and overall cost. Results update instantly as you adjust any figure.
Most lenders want an LTV (loan-to-value) of 80% or below — meaning a 20% deposit. Lower LTV unlocks better interest rates. At 95% LTV you can still find deals, but rates are higher and choice is more limited.
Most UK lenders offer 4 to 4.5 times your annual income. A £40,000 salary typically allows borrowing £160,000–£180,000, subject to affordability checks and deposit size. Some lenders go higher for higher earners.
Yes — a 30-year term has lower monthly payments than a 25-year term on the same loan. However, you pay significantly more interest overall. The calculator shows the exact trade-off between monthly cost and total interest for any term.