Mortgage Calculator UK
Estimate your monthly mortgage payment from price, deposit, rate and term.
—
—
Amortization schedule (yearly)
| Year | Opening | Paid / yr | Interest | Principal | Closing |
|---|
How it works
Your monthly mortgage payment is the loan amount (price minus deposit) repaid with interest over the term. A larger deposit or shorter term lowers the total interest you pay.
Payment = P × r × (1+r)^n / ((1+r)^n − 1)- P = price − deposit
- r = monthly rate
- n = months
- This estimate covers principal and interest only — taxes, insurance and fees are extra.
Frequently asked questions
How is a UK mortgage repayment calculated?
From the loan amount, interest rate and term using the standard amortisation formula, so each payment covers interest plus part of the capital.
What is a typical UK mortgage term?
Commonly 25 to 30 years, though shorter and longer terms exist. A longer term lowers monthly payments but raises total interest.
What does loan-to-value mean?
LTV is the loan as a percentage of the property’s value. A larger deposit gives a lower LTV and usually access to cheaper rates.
What is the difference between fixed and tracker rates?
A fixed rate stays the same for a set period; a tracker moves with the Bank of England base rate. After a deal ends you typically move to the lender’s SVR.
Should I choose a longer mortgage term?
A longer term reduces monthly payments but increases the total interest paid. The best term balances affordability against overall cost.
Does this include Stamp Duty and fees?
No. It estimates the mortgage repayment only; budget separately for Stamp Duty, valuation, arrangement and legal fees.
Estimating your UK mortgage repayments
This calculator estimates the monthly repayment on a UK mortgage from the amount borrowed, the interest rate and the term. A repayment (capital and interest) mortgage clears the loan by the end of the term, with each payment covering interest plus a slice of the balance.
What drives the payment
Three things move your monthly cost: the loan size, the interest rate, and the term — commonly 25 to 30 years in the UK. A longer term lowers the monthly payment but increases total interest, while a larger deposit reduces both the loan and, often, the rate.
Loan-to-value and deposit
Lenders price by loan-to-value (LTV) — the loan as a percentage of the property value. A bigger deposit means a lower LTV and access to better rates; for example, a 90% LTV (10% deposit) typically costs more than a 75% LTV. Affordability checks also stress-test whether you could cope if rates rose.
Fixed, tracker and SVR
UK borrowers usually choose a fixed rate (often 2 or 5 years) for certainty, a tracker that follows the Bank of England base rate, or the lender’s standard variable rate (SVR) after a deal ends. Remember to budget for Stamp Duty and fees. This is an estimate, not mortgage advice.
Results are estimates for general guidance in United Kingdom and may not reflect the latest local rates, fees or rules. Check official sources before making decisions.