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Mortgage Calculator UK
Mortgage Calculator UK
Calculate monthly repayments, interest, and Stamp Duty estimates
£0
Monthly Repayment
Principal + Interest
Total Interest
£0
Stamp Duty (Est)
£0
LTV Ratio
0%
Mortgage Balance Over Time
About the Mortgage Calculator UK
Estimate monthly repayments on a UK repayment mortgage from the property price, deposit, rate and term, including any product fee.
How to use the Mortgage Calculator UK
- Enter the Property Price (£) and Deposit (£).
- Enter the Interest Rate (%), Mortgage Term (Yrs) and any Product Fee (£).
- Choose the Buyer Type: First Time Buyer, Home Mover or Additional Property, then press Calculate Monthly Repayment.
Formula and method
The monthly repayment uses the standard formula: M = L × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where L is the amount borrowed after your deposit.
Worked example
A £250,000 home with a £50,000 deposit means borrowing £200,000. At 5% over 25 years the repayment is about £1,169 a month.
When to use the Mortgage Calculator UK
- Estimating monthly payments on a UK repayment or interest-only mortgage.
- Seeing how the length of the fixed-rate deal and the term change your costs.
- Working out how much deposit you need before you apply.
Common mistakes to avoid
- Forgetting stamp duty, legal fees, valuation and moving costs.
- Budgeting only for the initial fixed-rate deal. Payments can rise when it ends and you move to the lender's standard variable rate.
- Choosing interest-only without a clear plan to repay the capital.
Tips
- Stamp Duty Land Tax depends on the price and buyer type, and the rules change, so check the current rates on gov.uk.
- Fix your rate for a period to keep payments stable, but check early repayment charges.
- Compare products using the total cost including fees, not just the rate.
Frequently Asked Questions
One where each payment covers interest and part of the loan, so the debt is fully repaid at the end of the term.
Lenders often ask for at least 5 to 10 percent, and larger deposits unlock cheaper rates.
With a repayment mortgage you pay off interest and part of the loan each month, so the debt ends at zero. With interest-only you pay just the interest and must repay the full loan at the end.
Lenders typically ask for at least 5% to 10%. A bigger deposit usually gets you a better interest rate.