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UK Mortgage Repayment Calculator

    • 4.03% Initial
    • 5 year fixed
    • 6.9% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.04% Initial
    • 5 year fixed
    • 6.9% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.06% Initial
    • 5 year fixed
    • 6.9% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.06% Initial
    • 5 year fixed
    • 7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.08% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.14% Initial
    • 5 year fixed
    • 6.4% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.14% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback Max £1,600
      Free Legals
      Free Valuation
    • Get quotes
    • 4.14% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.17% Initial
    • 5 year fixed
    • 6.8% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.17% Initial
    • 5 year fixed
    • 6.9% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes

Representative example based on a fixed rate mortgage

A mortgage of £375,000 payable over 20 years initially on a fixed rate for 5 years at 4.38% and then at the standard variable rate of 7.65% for the remaining 15 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55.

The total amount payable would be £663,156.80 which includes interest and product fees of £1,124.

The overall cost for comparison is 6.5% APRC representative.

Early repayment charges may apply.

How much can I borrow

Lenders have recently changed the way they review applications due to the new rules introduced to the mortgage market.

Lenders appetite for lending will depend on the affordability of the mortgage, and they will often review your employment, your income, your monthly outgoings and other factors when deciding whether to lend.

Find out what you could borrow with the mortgage table above.

How to calculate mortgage repayments

If you want to plan how much you will repay each month, then use our UK mortgage repayment calculator above.

To figure out how much you will pay on your mortgage, complete the fields with the following:

  • The purpose of your mortgage
  • The value of the property
  • The amount you wish to borrow
  • The type of mortgage you want (either capital and interest or interest only mortgage)
  • The length of mortgage

The UK mortgage repayment calculator will provide you with a breakdown of all the mortgages available.

What is a fixed rate mortgage

A fixed rate mortgage is a mortgage that has a set interest rate for an agreed amount of time. Usually banks will offer a fixed rate of interest for the first 2,3,5 or 10 years.

The interest rate offered will vary depending on the length of the term. It should be noted that although you could secure a rate for a long period of time, there is no telling what the interest rates will look like half way through the fixed term. For example an attractive interest rate now may not look so good in a few years’ time.

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What is a tracker rate mortgage

Tracker rate mortgages are mortgages with interest rates that are linked to the Bank of England’s base rate. This means that tracker mortgages’ interest rates increase when the Bank of England hike their base rate.

Repayment or interest only

Repayment mortgages require you to pay both the capital and interest of a mortgage at the same time. This means that the monthly payments are usually much higher than other mortgages.

If you want a lower mortgage payment, you might want to explore your interest only mortgage options. This is because interest only mortgage payments are usually much lower than other mortgages. However, it should be noted that interest only mortgages do not allow you to build equity in the property.

Making overpayments

You can pay off your mortgages quicker through making overpayments. If you plan to do this, you should check with your mortgage provider first. This is because some lenders do not allow overpayments, and the majority of banks will impose early repayment charges to those who make overpayments.

If you want to explore your mortgage options, it is a good idea to speak to an independent mortgage broker who will be able to offer impartial advice.