Compare repayment terms below
ESTIMATED MONTHLY PAYMENT
£0.00
Enter the property price, deposit and term to calculate.
Compare repayment terms
iRemaining balance over time
iWhen the chart is focused, use the left and right arrow keys to explore months and the up and down arrow keys to change the repayment scenario. The table below also summarises each valid scenario.
The graph is unavailable. Your calculation and comparison figures remain available below.
| Scenario | Repayment term | Monthly payment | Amount financed | Total repaid |
|---|
A 0% interest model with equal monthly capital repayments. Fees and other financing charges are excluded.
This calculator shows a simple no-interest repayment estimate. It does not include fees, rent elements, provider charges or legal costs.
How no-interest mortgage repayments are calculated
This No Interest Mortgage Calculator estimates the monthly payment needed to repay a property financing amount evenly over a chosen term at 0% interest. Enter the property price, your deposit and the repayment term to see the amount financed and estimated monthly payment.
You may be exploring a no-interest arrangement for religious or ethical reasons, considering a private agreement, or simply trying to understand repayment without interest. This tool models the arithmetic only. It does not establish whether a particular financing arrangement meets your beliefs, preferences or legal requirements.
A product described as having no interest may still involve other costs. The result here assumes that every monthly payment reduces the amount financed, with no additional financing charges.
Formula used
Amount financed = property price − deposit
Number of monthly payments = repayment term in years × 12
Monthly payment = amount financed ÷ number of monthly payments
Calculations use unrounded values internally. Monthly payments are displayed to the nearest penny. Where the division does not produce an exact penny amount, an actual payment schedule may need a small adjustment to its final payment.
Your no-interest repayment formula
Monthly payment = (property price − deposit) ÷ months
The deposit reduces the amount financed. The remaining amount is divided equally across the repayment term.
Using your figures
Worked example: £300,000 property with a £60,000 deposit
Suppose a property costs £300,000 and you contribute a £60,000 deposit. The remaining £240,000 is repaid over 25 years without interest or other financing charges.
| Property price | £300,000.00 |
|---|---|
| Deposit | £60,000.00 |
| Amount financed | £240,000.00 |
| Repayment term | 25 years |
| Number of monthly payments | 300 |
| Estimated monthly payment | £800.00 |
| Total capital repaid | £240,000.00 |
The calculation is £240,000 ÷ 300 = £800 per month. The total capital repaid excludes the £60,000 deposit, which is paid separately. Together, the deposit and capital repayments equal the £300,000 property price before any additional costs.
Comparing shorter and longer repayment terms
You can add up to two alternative repayment terms while keeping the property price and deposit unchanged. Each comparison recalculates when those main inputs change.
For the £240,000 financed amount in the example, the effect of changing the term is:
| Repayment term | Monthly payments | Monthly payment | Total capital repaid |
|---|---|---|---|
| 20 years | 240 | £1,000.00 | £240,000.00 |
| 25 years | 300 | £800.00 | £240,000.00 |
| 30 years | 360 | £666.67 | £240,000.00 |
A longer term lowers the monthly payment by spreading the same amount across more months. In this 0% model, it does not increase the total capital repaid. The 30-year payment is rounded for display; the total uses the unrounded calculation.
This differs from an interest-bearing repayment mortgage, where extending the term can increase total interest. Use the Mortgage Calculator to explore that model with an interest rate.
Understanding the remaining balance graph
Each line starts at the amount financed and ends at zero at the end of its repayment term. The lines are straight because equal capital repayments reduce the balance by the same amount each month.
A shorter term produces a steeper line and a higher monthly payment. A longer term reduces the balance more gradually. The shared timeline extends to the longest valid term so all active comparisons can be viewed together.
Hover or tap across a line to see how much has been repaid and how much remains at that point. The comparison table summarises the payment and total repaid for each valid term.
How the deposit affects your payment
A larger deposit reduces the amount financed. At the same repayment term, this lowers the monthly payment. For example, an additional £30,000 deposit reduces the payment by £100 per month over 25 years: £30,000 ÷ 300 = £100.
Enter 0 if you want to model no deposit. This is a mathematical scenario, not confirmation that a provider offers financing without a deposit. The deposit must be less than the property price for this repayment calculation.
No interest does not necessarily mean no cost
A real financing agreement may include rent, a profit margin, administration charges, arrangement fees or other payments. These are outside this calculator’s equal-capital-repayment model.
Check the agreement’s full payment schedule, total amount payable, ownership provisions and terms for changing or ending the arrangement. A 0% calculation cannot determine those features from the property price and deposit alone.
The Mortgage Cost Awareness Calculator can help you consider costs beyond a headline monthly payment. Its assumptions should also be checked against the arrangement you are considering.
No-interest repayments and interest-only mortgages
These terms describe different models. In this no-interest calculation, monthly payments repay the financed capital directly and the balance falls to zero.
In an interest-only mortgage, scheduled monthly payments generally pay interest without repaying the original capital. The capital therefore needs a separate repayment plan. This calculator does not model interest-only payments.
Repayment estimates and affordability
A calculated monthly payment does not establish whether the commitment is affordable. Consider it alongside your income, regular spending, existing commitments and a reserve for unexpected costs.
The Affordability Calculator provides illustrative income-multiple scenarios. It does not assess eligibility for a no-interest arrangement or replace a provider’s affordability assessment.
Property purchase costs are separate
The deposit and financed balance do not cover every cost involved in buying a property. Legal work, surveys, insurance, moving costs and applicable purchase taxes may require additional funds.
For residential purchase tax estimates, use the Stamp Duty Calculator for England and Northern Ireland, the LBTT Calculator for Scotland, or the LTT Calculator for Wales. The treatment of a particular financing structure should be checked separately.
What this calculator includes and excludes
The calculation includes:
- the property price and deposit you enter
- the resulting amount financed
- equal monthly capital repayments at 0% interest
- a repayment term of 1 to 50 whole years
- up to two alternative terms using the same financed amount
- the remaining balance through each valid repayment term
It does not include:
- rent, profit margins or provider-specific financing charges
- arrangement, administration or broker fees
- legal, valuation, survey or insurance costs
- property purchase taxes
- missed payments, payment holidays or changing payment schedules
- regular overpayments or lump-sum repayments
- inflation, investment returns or changes in property value
- affordability, eligibility or ownership assessments
Important note
This calculator provides a mathematical illustration for general information. It is not a financing offer, a product recommendation, or financial or legal advice. Check actual costs and obligations against the provider’s documents and obtain appropriate advice for the agreement you are considering.
Frequently Asked Questions
What does the No Interest Mortgage Calculator show?
It divides the property price minus the deposit by the number of months in the selected term. The result is an estimated equal monthly capital payment at 0% interest.
Is this a quotation for a real financing product?
No. It is a simple repayment model. A provider’s actual arrangement may use different charges, payment schedules or ownership terms.
Can I use it for religious or ethical financing preferences?
You can use it to understand repayment without interest. It does not assess whether any product meets particular religious or ethical requirements.
Does no interest mean there are no other charges?
No. An agreement may have other costs even if it does not charge interest. These costs are excluded from this estimate.
What is the amount financed?
It is the property price minus your deposit. A £300,000 property with a £60,000 deposit leaves £240,000 to finance.
Can I enter a zero deposit?
Yes. Enter 0 in the deposit field. This models financing the full property price, but does not confirm that such an arrangement is available.
Why must the deposit be less than the property price?
This tool calculates repayments for a positive financed balance. If the deposit covers the full price, there is no remaining purchase amount to repay under this model.
Does a longer term increase the total repaid?
Not in this model. With no interest or additional charges, the total capital repaid remains equal to the amount financed. The monthly payment changes because the number of payments changes.
Why are the balance lines straight?
Every monthly payment reduces the capital by the same amount. There is no interest component changing the rate of capital repayment.
What changes when I add a comparison?
The comparison uses another repayment term with the same property price and deposit. Its payment, balance line and table figures are calculated separately.
Why might the displayed payment multiplied by the months differ slightly?
The displayed monthly payment is rounded to the nearest penny. Calculations retain the unrounded value. An actual penny-based payment schedule may need a small final adjustment.
Does total repaid include my deposit?
No. Total repaid refers to repayment of the financed amount. Your deposit is paid separately, and additional purchase or financing costs are excluded.
Does this calculator show whether I can afford the payment?
No. It does not assess income, spending, existing debts or provider criteria. The payment estimate is only one part of assessing a commitment.
Can I share my calculation and comparisons?
Yes. The calculator’s share link preserves the entered figures and active comparison terms so the scenario can be reopened.
Sources and review
The calculation uses direct division rather than an interest-bearing amortisation formula. The formula and worked examples above show how the monthly payment is obtained. External references provide context about actual financing costs and documents; they do not validate or endorse this calculator.
For a real agreement, use the provider’s payment schedule, fees and contractual documents as the references for the costs and obligations that apply to you. The relevant disclosures depend on the type of arrangement.