Mortgage repayment calculator
See how your mortgage amount, interest rate and term could affect your monthly repayments.
Your details
Interest rate Enter the annual interest rate for your mortgage. A lower rate means lower monthly payments and total interest paid.
Mortgage amount Enter the total amount you plan to borrow. This figure determines your monthly repayments and total interest costs.
Mortgage term (years) Choose the number of years you plan to repay the mortgage. Longer terms reduce monthly payments but increase total interest costs.
Repayment type
Choose the repayment type:
Interest-Only: Pay interest monthly and repay the full loan at the end.
Repayment: Pay both interest and loan amount monthly, clearing the mortgage by the end of the term.
Your results
Enter your mortgage details to see your estimate.
Your monthly repayments This is the estimated monthly payment based on your loan amount, interest rate, and mortgage term. For interest-only mortgages, this excludes principal repayment.
£0
Total interest payable: The total interest you’ll pay over the full term of the mortgage. For repayment mortgages, this includes all interest paid alongside principal repayments.
£0Your next steps
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Your questions answered
What does a mortgage repayment calculator show?
A mortgage repayment calculator gives you an indication of how much your mortgage could cost each month based on the mortgage amount, interest rate, term and repayment type you enter.
It can also show the estimated total interest payable over the mortgage term. The figures are estimates and your actual repayments will depend on the mortgage you choose.
How are mortgage repayments calculated?
Your estimated repayments are based on the mortgage amount, interest rate, mortgage term and repayment type you enter.
Changing any of these figures can affect your monthly payment. For example, a higher interest rate will usually increase your repayments, while spreading a repayment mortgage over a longer term can reduce the monthly amount.
What is the difference between repayment and interest-only mortgages?
With a repayment mortgage, your monthly payments normally cover both the interest charged and part of the amount you borrowed. If all payments are made as agreed, the mortgage should be repaid by the end of the term.
With an interest-only mortgage, your monthly payments normally cover only the interest. The original amount borrowed will still need to be repaid at the end of the mortgage term, so you will need an acceptable repayment strategy.
How does the interest rate affect my mortgage repayments?
The interest rate affects how much interest you pay on your mortgage. A higher rate will generally mean higher monthly repayments, while a lower rate will generally reduce them.
Mortgage rates can change over time, so your actual repayments may differ if your rate changes during the mortgage term.
How does the mortgage term affect my repayments?
A longer mortgage term will generally reduce your monthly repayments on a repayment mortgage because you are spreading the amount borrowed over more years.
However, taking longer to repay the mortgage will usually mean paying more interest overall. A shorter term may increase your monthly payments but reduce the total amount of interest you pay.
Will my actual mortgage repayments be the same as the calculator?
Not necessarily. The calculator provides an illustrative estimate based on the figures you enter.
Your actual repayments will depend on your mortgage amount, interest rate, term, repayment type and the specific mortgage deal you choose. Fees, charges and future changes to your interest rate could also affect the overall cost.
Important information
These results are estimates for general information only and do not constitute personal mortgage advice. They assume the interest rate entered remains the same throughout the mortgage term and exclude fees and charges, so actual repayments may differ.
If you select an interest-only mortgage, the monthly payment covers interest only, and the full amount borrowed will remain payable at the end of the term.
Your home may be repossessed if you do not keep up repayments on your mortgage.