Separate country pages: Mortgage Calculator · current page is UK · Canadian Mortgage Calculator
UK Mortgage Calculator
Your monthly mortgage repayment is your loan spread over the term (typically 25 years) at your interest rate, on a repayment or interest‑only basis. Enter the property price, deposit, rate and term to see your payment, total interest and schedule.
Work out your monthly UK mortgage repayments, add overpayments to see how quickly you could pay off your mortgage early, check how much you could borrow, and compare repayment vs interest-only — free, with the full cost, total interest, amortisation schedule and England & Northern Ireland stamp duty. It also works for buy-to-let, holiday let and second mortgages, so you can compare the numbers before you remortgage.
SDLT estimate uses England and Northern Ireland residential bands checked for 2026. Scotland and Wales use separate property tax systems.
Amortisation schedule
How this UK mortgage calculator works
The calculator subtracts your deposit from the property price to estimate the mortgage amount. A repayment mortgage uses the standard amortisation formula, so each payment includes interest and a slice of the loan. An interest-only mortgage uses the monthly interest charge only, which keeps the payment lower but leaves the borrowed amount to repay later.
The UK mortgage formulas
Repayment — your monthly payment (M) uses the standard amortisation formula:
Interest-only — you pay only the monthly interest:
- M — monthly payment
- P — loan amount (home price minus deposit)
- i — monthly interest rate = annual rate ÷ 100 ÷ 12
- n — number of payments = term in years × 12
In a spreadsheet (Excel or Google Sheets), the same repayment is =PMT(rate/12, years*12, -loan).
The stamp duty estimate is for residential purchases in England and Northern Ireland. First-time buyer relief is applied only when the property price is within the relief limit. If the home is above that limit, the standard bands are used.
How much are monthly mortgage repayments?
As a quick guide, here is the monthly repayment on common mortgage sizes at a 5% interest rate. A longer term lowers the monthly figure but costs more interest overall — enter your own price, deposit, rate and term above for an exact result.
| Amount borrowed | Over 25 years | Over 30 years |
|---|---|---|
| £100,000 | £584.59 | £536.82 |
| £150,000 | £876.89 | £805.23 |
| £200,000 | £1,169.18 | £1,073.64 |
| £250,000 | £1,461.48 | £1,342.05 |
| £300,000 | £1,753.77 | £1,610.46 |
| £400,000 | £2,338.36 | £2,147.29 |
| £500,000 | £2,922.95 | £2,684.11 |
Illustrative at 5% — actual rates vary, so use the calculator for today's figure. Example: a £200,000 home with a 10% deposit means borrowing £180,000, about £1,052 a month over 25 years at 5%.
Repayment vs interest-only
A repayment mortgage is the safer default for most buyers because the balance falls every month. Interest-only can help with cash flow, but it needs a credible repayment plan for the end of the term. Lenders may apply stricter checks before approving it.
Should you overpay your UK mortgage?
Overpaying means paying more than your required monthly amount, and on a repayment mortgage it is one of the most powerful money moves you can make: every extra pound comes straight off the balance, so you pay interest on a smaller loan for the rest of the term. The result is that you clear the mortgage years earlier and save a large chunk of interest. Add a Monthly Overpayment or a One-off Overpayment above and the amortisation schedule updates to show your new payoff date and the interest you save.
For a feel of the impact: on a £200,000 repayment mortgage at 5% over 25 years, overpaying an extra £150 a month saves about £33,000 in interest and clears the loan roughly 5 years sooner. Your own figure depends on your rate, term and balance, so run it above.
One UK catch to check first — early repayment charges (ERCs). Most fixed-rate deals let you overpay up to 10% of the balance each year with no penalty; go beyond that during the fixed period and a charge of roughly 1–5% can apply. As a rule of thumb, overpaying beats saving when your mortgage rate is higher than the interest your savings would earn — but keep an emergency fund and clear any higher-interest debt (credit cards, personal loans) first.
How much can I borrow?
As a rough guide, UK lenders have traditionally offered around 4 to 4.5 times your annual income (single or joint) — the Bank of England treats 4.5× as the standard "high loan-to-income" threshold. In 2026 many lenders now stretch to 5 to 5.5×, and some go higher for stronger profiles, so treat the estimate above as a typical starting point, not a ceiling or a guarantee. Your actual limit depends on a full affordability assessment: outgoings, credit history, deposit size and the loan-to-value band. Enter your income and pick a multiple to see an indicative borrowing figure and the property price it could reach with your deposit.
Remortgaging, affordability, LTV and buy-to-let
This one calculator quietly covers a few related jobs — here is how, honestly:
- Remortgaging — enter your remaining balance, the new rate and the years left to see your new monthly payment. To compare the whole deal (fees, any early repayment charge and the break-even point), use our refinance / remortgage calculator.
- Affordability — the income and multiple fields under More Options give an indicative “how much can I borrow” figure. For a fuller picture that weighs your outgoings and deposit, use the home affordability calculator.
- Loan-to-value (LTV) — your deposit sets your LTV: a 25% deposit is 75% LTV, a 40% deposit is 60% LTV. Lower LTV bands (60%, 75%, 85%, 90%) usually unlock lower interest rates, so it is worth checking how a bigger deposit changes your figure.
- Buy-to-let — switch to interest-only to estimate a typical buy-to-let monthly payment. Remember that BTL borrowing is judged on the property’s rental income (usually 125–145% of the mortgage interest), not your salary, so treat the payment as a guide.
Estimates only — not financial, mortgage or tax advice.
How to use it & key terms
Enter the property price, deposit, rate and term, choose repayment or interest-only, then press Calculate for your monthly payment, total interest and stamp duty.
| Term | What it means |
|---|---|
| Deposit | Your upfront contribution; the rest is the mortgage. |
| LTV (loan-to-value) | The loan as a percentage of the property price; a lower LTV gets better rates. |
| Repayment mortgage | Payments cover interest and capital, clearing the loan by the end of the term. |
| Interest-only | Payments cover only interest; the capital is repaid separately at the end. |
| Stamp duty (SDLT) | The tax on property purchases above a threshold. |
| Fixed vs variable | Whether your rate is locked for a period or moves with the market. |
Sources & methodology
Repayment figures use the standard amortisation formula (loan, monthly rate and term in months). Interest-only figures show the monthly interest on the full loan with no capital repaid. Stamp Duty is estimated using the current SDLT bands for England and Northern Ireland, including first-time buyer relief where eligible.
Sources: Standard amortisation formula; Stamp Duty Land Tax (SDLT) rates and first-time buyer relief as published by HM Revenue & Customs (HMRC) / GOV.UK.
The costs around a UK mortgage, beyond the monthly payment
The monthly payment is only part of what a UK mortgage costs. Buying a home carries a set of one-off costs that arrive around completion, and budgeting for them is as important as the payment itself. Setting the money aside early prevents an unwelcome surprise at the very point when your finances are already stretched by the deposit.
The largest of the extra costs for many buyers is Stamp Duty Land Tax, the government charge on property purchases in England and Northern Ireland; Scotland and Wales run their own equivalents. It is tiered, so the amount depends on the price, and reliefs exist for certain buyers such as first-time purchasers. Because the exact bands change from time to time, it is worth confirming the current position before you commit, but the key point is simply to expect the charge and hold cash back for it rather than assuming the deposit is the only lump sum you need.
On top of that sit the transaction fees: a valuation or survey so you know what you are buying, legal and conveyancing costs to handle the purchase, and sometimes a product or arrangement fee charged by the lender for a particular deal. A lower headline rate paired with a large arrangement fee is not always cheaper than a slightly higher rate with no fee, so the two are best judged together over the length of the deal rather than by the rate alone.
There is also the shape of most UK deals to plan for. Many mortgages fix or discount the rate for an initial period, after which they revert to the lender's standard variable rate, which is usually higher. That reversion is why so many borrowers remortgage as the initial period ends, moving to a new deal rather than drifting onto the standard rate. Building that switch into your plans — and checking whether early repayment charges apply during the fixed period — keeps the true cost of the mortgage under control across the years, not just in the first month.
Frequently asked questions
How does the UK mortgage calculator work?
It subtracts your deposit from the property price, applies the monthly mortgage interest rate across the chosen term, and estimates either a repayment mortgage payment or an interest-only payment.
Does this include UK stamp duty?
Yes. It estimates Stamp Duty Land Tax for England and Northern Ireland using the current standard and first-time buyer bands shown on the page. Scotland and Wales use different systems.
What is the difference between repayment and interest-only?
A repayment mortgage pays interest and gradually clears the loan. An interest-only mortgage pays only the interest each month, so the original loan still needs to be repaid at the end.
Is the deposit the same as a down payment?
Yes. UK buyers normally call it a deposit; US buyers often call it a down payment. In both cases, it is the cash you contribute upfront before borrowing the rest.
Can first-time buyers get stamp duty relief?
Eligible first-time buyers in England and Northern Ireland can pay no SDLT on the first £300,000 when the property price is £500,000 or less. Above that price, standard rates apply.
How much is a mortgage on a £200,000 house in the UK?
On £200,000 borrowed, a repayment mortgage is about £1,169 a month at 5% over 25 years (around £1,074 over 30 years). On a £200,000 home you'd borrow less after your deposit — with 10% down (£180,000) it's roughly £1,052 a month. Enter your exact price, deposit and rate above.
How much can I borrow for a UK mortgage?
UK lenders typically offer around 4 to 4.5 times your annual income, and some stretch to 5 to 5.5×. Enter your income and choose a multiple under More Options to see an indicative borrowing figure and the property price it could reach with your deposit.
Should I overpay my UK mortgage?
Often, yes — on a repayment mortgage every overpayment reduces the balance, so you pay less interest and finish sooner. It usually makes sense when your mortgage rate is higher than the interest you'd earn on savings. First, keep an emergency fund and clear higher-interest debts like credit cards. Add a monthly or one-off overpayment above to see the interest saved and your new payoff date.
Will I be charged for overpaying? (early repayment charges)
Many UK fixed-rate deals let you overpay up to 10% of the balance each year with no penalty. Beyond that, during a fixed period, an early repayment charge of roughly 1% to 5% of the extra amount can apply. Always check your mortgage terms before making a large overpayment.
Can I use this for a buy-to-let or holiday-let mortgage?
Yes. Buy-to-let and holiday-let mortgages are often taken on an interest-only basis, which this calculator supports — switch to interest-only to see the monthly interest, or use repayment mode if you are paying down the capital. Enter the property price, deposit and rate as usual. Note that lenders assess buy-to-let affordability mainly on expected rental income rather than salary.
Are these results mortgage advice?
No. The figures are planning estimates only. Your lender, solicitor or adviser can confirm exact rates, fees, eligibility and tax treatment.