Calculate your mortgage payments based on property price, deposit, interest rate, and term.
✔ Monthly mortgage payments • ✔ Interest breakdown • ✔ Amortisation schedule • ✔ UK calculator
This free UK Mortgage Calculator estimates your monthly mortgage repayments based on the property price, deposit, interest rate, and mortgage term. It also calculates the mortgage amount, total interest paid, total amount repaid, and provides an amortisation schedule showing how your balance reduces over time.
Whether you are a first-time buyer, moving home, remortgaging, or investing in property, this calculator can help you estimate your borrowing costs before applying for a mortgage.
The calculator assumes a standard capital repayment mortgage where each monthly payment includes both interest and repayment of the amount borrowed.
An amortisation schedule shows how every mortgage payment is divided between interest and repayment of the loan (principal). During the early years, a larger proportion of each payment goes towards interest. As the mortgage balance decreases, more of each payment reduces the outstanding loan.
This calculator includes an amortisation schedule so you can see how your mortgage balance changes throughout the loan term.
After entering your mortgage details, the calculator instantly provides:
A mortgage is a long-term loan used to purchase property. Each monthly payment normally contains two parts:
During the early years of a mortgage, a larger portion of each payment goes towards interest. As the balance decreases, more of each payment goes towards repaying the loan itself.
To estimate your mortgage repayments, enter:
The calculator will then estimate your monthly repayment and total borrowing costs.
Estimated monthly repayment: approximately £1,170 per month.
Estimated monthly repayment: approximately £1,420 per month.
A larger deposit reduces the amount you need to borrow and can significantly reduce both monthly payments and total interest costs.
| Property Price | Deposit | Mortgage Required |
|---|---|---|
| £250,000 | £25,000 (10%) | £225,000 |
| £250,000 | £50,000 (20%) | £200,000 |
| £250,000 | £75,000 (30%) | £175,000 |
Generally, lenders offer their best rates to borrowers with larger deposits because the lending risk is lower.
Loan-to-Value (LTV) measures how much of a property's value is being financed through a mortgage.
Formula:
LTV = Mortgage Loan Amount ÷ Property Value × 100
For example, borrowing £180,000 on a £200,000 property results in a 90% LTV mortgage.
Lower LTV mortgages generally qualify for better interest rates and wider lender options.
For example:
Lower LTV mortgages often qualify for lower interest rates because the lender is taking less risk.
A fixed-rate mortgage keeps the same interest rate for an agreed period, often 2, 3, 5, or 10 years.
This provides predictable monthly payments and protection against interest rate rises.
A variable-rate mortgage can change over time depending on lender policies or wider market interest rates.
Monthly payments may increase or decrease during the mortgage term.
| Term | Monthly Payment | Total Interest |
|---|---|---|
| 15 Years | Higher | Lower |
| 25 Years | Medium | Medium |
| 35 Years | Lower | Higher |
Longer mortgage terms reduce monthly repayments but usually increase the total interest paid over the life of the loan.
How much deposit do I need?
Many UK lenders require at least 5% to 10%, although larger deposits often qualify for better rates.
What mortgage term should I choose?
A shorter term usually costs less overall but results in higher monthly payments. A longer term reduces monthly payments but increases total interest paid.
Can I make overpayments?
Many lenders allow overpayments, which can reduce the mortgage balance faster and lower overall interest costs.
Are the results exact?
The calculator provides an estimate using standard mortgage formulas. Actual mortgage offers may vary between lenders.
Can I use this calculator before applying for a mortgage?
Yes. It is ideal for budgeting and comparing different borrowing scenarios before speaking with a lender.
What is the difference between repayment and interest-only mortgages?
A repayment mortgage gradually pays off both the loan and interest over time. An interest-only mortgage only covers interest payments, leaving the original loan balance to be repaid at the end of the term.
Can I calculate a mortgage with a 5% deposit?
Yes. Simply enter the property price and a deposit equal to 5% of that value. The calculator will estimate your monthly repayments and total borrowing costs.
Does this calculator include mortgage fees?
No. The calculation estimates repayments based on the loan amount, interest rate, and mortgage term. Arrangement fees, valuation fees, legal costs, and insurance are not included.
Can I use this calculator for buy-to-let mortgages?
Yes. It provides a repayment estimate, although buy-to-let mortgages may have different lending criteria and affordability assessments.
This mortgage calculator provides estimates for planning and educational purposes only. Actual mortgage repayments may differ depending on lender fees, introductory rates, fixed or variable products, insurance, and other borrowing costs. Always obtain a personalised mortgage illustration from your chosen lender or mortgage adviser before making financial decisions.
Information on this page is based on publicly available guidance, official government publications, and commonly accepted financial calculation methods.
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Last Updated: August 2026