Mortgage Repayment calculator
Repayments are calculated using the size of your mortgage, the interest rate from your lender, and the term of your contract.
By entering a few key details, we can provide you with an indicative value. For a more accurate figure, get in touch with one of our advisers who will going through your monthly incomings and outgoings.
For particular advice and guidance about finding the right mortgage for you, speak to one of our expert advisers.
Alternatively, see all our mortgage calculators.
This calculator does not constitute mortgage advice. It is based on a standard mortgage repayment formula based on the mortgage size and length and a fixed interest rate. It should be used as a guide only.
Curious about how much a potential mortgage might cost you? Take the next step to explore your mortgage options by clicking the link below!
How does our repayment tool calculate mortgage payments?
This mortgage repayment calculator uses your mortgage amount, mortgage term, and interest rate to give you an idea of what your monthly mortgage repayments could be.
The interest rate used is based on the average initial interest rate of written business by our advisers during the last calendar month.
Results should only be used as a guide. To get a better idea about repayments, use our mortgage finder to see the repayments against actual mortgage deals.
What is a mortgage repayment?
A mortgage repayment is the regular payment made by you (the borrower) to the mortgage provider (lender) to repay the money you borrowed. This includes any interest charges and fees.
You and the lender will work out how much you’ll pay each month when you take out your mortgage as well as when you will make payments each month.
How do mortgage interest rates work?
When you take out a mortgage or loan, the lender charges you interest on the amount you borrow. This interest is a percentage of your loan amount and adds to your monthly mortgage payments.
If your mortgage interest changes, so will your repayments. Use our calculator to check how any change may affect your monthly costs by inputting different interest rate values. Once you've found a repayment amount you're comfortable with, use our rate finder to see what mortgages are available.
How can we help?
How much can
you borrow?
Our calculator can help you work out how much you could borrow for your mortgage. All we need from you is a few key details.
Looking to
remortgage?
Our mortgage finder searches thousands of different deals, which means we can help you find something that works for you.
Stamp Duty
calculator
Stamp Duty Land Tax is a fee you will have to pay if the property you’re purchasing is £250,000 or more.
Important information
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
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Frequently asked questions
A mortgage repayment calculator is a handy tool that helps you get an estimate on what your monthly mortgage payments could be.
It works by using the mortgage amount amount, interest rate, and loan term.
By entering in different numbers, you can compare various mortgage options and understand how changes in interest rates or loan terms impact your affordability.
It's important to remember that these calculators provide estimates. Get personalised mortgage repayments and advice from one of our expert advisers
Mortgage repayments are a combination of two key parts: capital and interest.
Capital: This refers to the actual amount of money you borrow. Each repayment chips away at this borrowing amount, bringing you closer to owning your home outright.
Early on in your mortgage journey, a larger portion of your payment goes towards interest, with a smaller amount reducing the capital. As you near the end of your term, this flips, with most of your payment going towards capital repayment.
Interest: This is the fee you pay to the lender for borrowing their money. The interest rate is typically expressed as an annual percentage rate (APR), and it's applied to the remaining balance of your loan each month.
So, the more you owe, the more interest you'll accrue. Remember, interest adds up over time, so making additional payments towards your borrowed amount can significantly reduce the overall interest you pay.
It's important to note that some mortgages, like interest-only mortgages, only cover the interest portion in the monthly payments. With these types of mortgages, you'll need to have a separate plan in place to repay the original loan amount at the end of the term.
No, using our mortgage repayment calculator will not affect your credit score in any way. These calculators are simply tools that estimate your monthly payments based on factors like mortgage amount, interest rate, and loan term.
They don't access your credit report or leave any inquiries that lenders can see. So, feel free to play around with different scenarios and interest rates without worrying about any negative impact on your creditworthiness.
Our Mortgage Affordability calculator will search through a pool of over 50 lenders to find an estimate of your mortgage affordability. No credit checks required.
Factors like the interest rate and mortgage term affect the monthly payment. Here's a typical example:
Mortgage Amount: £300,000
Interest rate: 4.25%
Term (years): 25
Your monthly payments could be £1,626
This calculator does not constitute mortgage advice. It is based on a standard mortgage repayment formula based on the mortgage size and length and a fixed interest rate. It should be used as a guide only.
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