ESTIMATED MONTHLY REPAYMENT
£0.00
Enter your mortgage details to calculate.
This calculator gives an estimate only. Actual mortgage repayments may vary depending on lender fees, product type and individual circumstances.
How to calculate mortgage repayments
Mortgage repayments are usually calculated using the mortgage amount, interest rate and mortgage term. The repayment amount depends on how much you borrow, how long you borrow for and the interest rate charged by the lender.
Example: £200,000 mortgage over 25 years
If you borrow £200,000 over 25 years at an interest rate of 5%, your estimated monthly repayment would be around £1,169.
What affects your mortgage repayments?
Your monthly mortgage payment can change depending on the size of your deposit, the mortgage term, the interest rate, lender fees and whether you choose a repayment or interest-only mortgage.
What this calculator is for
This mortgage calculator helps estimate monthly repayment costs for a repayment mortgage. It can be useful when comparing mortgage options, planning a house purchase or checking whether a monthly payment may be affordable.
Important note
This calculator is for general guidance only and does not provide financial advice. Mortgage rates and lender criteria can vary, so always check figures with a qualified mortgage adviser or lender before making a decision.
Common mortgage examples
Mortgage calculators are commonly used by home buyers, first-time buyers, landlords and people comparing remortgage deals.
Example: increasing the mortgage term
A longer mortgage term can reduce monthly repayments, but may increase the total interest paid over the life of the mortgage.
Example: lower interest rates
A lower mortgage interest rate can significantly reduce monthly repayment costs and total borrowing costs.
Who may use this calculator?
This calculator may be useful for:
- first-time buyers
- home movers
- buy-to-let landlords
- people comparing mortgage deals
- homeowners planning a remortgage
Frequently Asked Questions
How are mortgage repayments calculated?
Mortgage repayments are based on the loan amount, interest rate and mortgage term.
Does this calculator include lender fees?
No. This calculator provides an estimate only and does not include lender fees or additional costs.
Can interest rates change?
Yes. Variable-rate and tracker mortgages may change over time depending on market conditions and lender policies.
What is a repayment mortgage?
A repayment mortgage means you gradually repay both the loan amount and interest over the mortgage term.
Can this calculator be used for buy-to-let mortgages?
It can provide a basic estimate, but buy-to-let mortgage affordability may use different lending criteria.