Mortgage repayment calculator
Purchase price, deposit, rate and term in; the monthly repayment out. Calculated in your browser, nothing is sent anywhere.
Monthly repayment: £0
Gross yield: —
An estimate on a standard repayment mortgage. A lender's own figure will differ with fees, the exact product and how they assess affordability. Not financial advice, and we are not a broker.
What the number does and does not include
This is the capital-and-interest repayment on the amount borrowed, spread evenly over the term. Early payments are mostly interest and later ones mostly capital, which is why overpaying in the first years saves disproportionately more than overpaying later.
It does not include the things that arrive alongside it: buildings insurance, ground rent and service charge on a leasehold flat, council tax, or the energy bill, which on a poorly rated property can exceed the difference between two mortgage rates.
Almost nobody keeps the same rate for the whole term. A fixed rate ends after two or five years and the loan moves to whatever is available then, so it is worth checking the payment at a rate two or three points higher than today's before committing.
Common questions
How much deposit do I need?
Five percent is the usual minimum, but rates improve in steps at 10%, 15% and 25%. Moving from a 5% to a 10% deposit often cuts the rate enough to change the monthly payment by more than the extra deposit costs per month.
Why is a lender offering me less than this suggests?
Affordability is assessed on income, outgoings and a stressed interest rate well above the one you are quoted, not on the monthly figure alone.
Should I take a longer term to lower the payment?
It lowers the monthly cost and raises the total interest substantially. Both are true at once, and which matters more depends on your circumstances rather than on arithmetic.
The rest of the picture
The tax is the easy number. Flood risk, what the neighbours' houses actually sold for, crime, schools and the energy bill are the ones that change your mind about a house. Those are free too, on any UK postcode.