Mortgage calculator
Work out your monthly repayments and the total cost of your mortgage.
Compare repayment and interest-only mortgages, include mortgage fees and see your balance and payments year by year. Enter an interest rate to estimate payments, or a monthly payment to work out the implied rate.
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Example figures — enter your details and calculate your mortgage.
Mortgage balance & payments
Paid so far includes monthly payments and any upfront mortgage fees. It excludes your deposit and any interest-only capital repayment.
- Loan before fees
- £250,000.00
- Mortgage fees (paid upfront)
- £0.00
- Starting mortgage balance
- £250,000.00
- Loan-to-value before fees
- 83.3%
- Deposit + upfront mortgage fees
- £50,000.00
Total mortgage cost includes the loan, interest and entered fees, but not the deposit, Stamp Duty, legal costs or other homebuying costs. An estimate only, not financial advice.
View yearly repayment breakdown
| Year | Capital repaid | Interest paid | Paid so far | Remaining balance |
|---|---|---|---|---|
| 0 | £0.00 | £0.00 | £0.00 | £250,000.00 |
| 1 | £5,538.27 | £11,136.70 | £16,674.97 | £244,461.73 |
| 2 | £11,330.98 | £22,018.97 | £33,349.95 | £238,669.02 |
| 3 | £17,389.80 | £32,635.13 | £50,024.92 | £232,610.20 |
| 4 | £23,726.95 | £42,972.94 | £66,699.90 | £226,273.05 |
| 5 | £30,355.24 | £53,019.63 | £83,374.87 | £219,644.76 |
| 6 | £37,288.03 | £62,761.82 | £100,049.85 | £212,711.97 |
| 7 | £44,539.31 | £72,185.51 | £116,724.82 | £205,460.69 |
| 8 | £52,123.71 | £81,276.08 | £133,399.79 | £197,876.29 |
| 9 | £60,056.54 | £90,018.23 | £150,074.77 | £189,943.46 |
| 10 | £68,353.81 | £98,395.94 | £166,749.74 | £181,646.19 |
| 11 | £77,032.24 | £106,392.48 | £183,424.72 | £172,967.76 |
| 12 | £86,109.37 | £113,990.33 | £200,099.69 | £163,890.63 |
| 13 | £95,603.49 | £121,171.18 | £216,774.67 | £154,396.51 |
| 14 | £105,533.77 | £127,915.87 | £233,449.64 | £144,466.23 |
| 15 | £115,920.25 | £134,204.37 | £250,124.62 | £134,079.75 |
| 16 | £126,783.88 | £140,015.71 | £266,799.59 | £123,216.12 |
| 17 | £138,146.59 | £145,327.98 | £283,474.56 | £111,853.41 |
| 18 | £150,031.29 | £150,118.25 | £300,149.54 | £99,968.71 |
| 19 | £162,461.98 | £154,362.54 | £316,824.51 | £87,538.02 |
| 20 | £175,463.73 | £158,035.76 | £333,499.49 | £74,536.27 |
| 21 | £189,062.77 | £161,111.69 | £350,174.46 | £60,937.23 |
| 22 | £203,286.56 | £163,562.88 | £366,849.44 | £46,713.44 |
| 23 | £218,163.78 | £165,360.63 | £383,524.41 | £31,836.22 |
| 24 | £233,724.46 | £166,474.92 | £400,199.38 | £16,275.54 |
| 25 | £250,000.00 | £166,874.36 | £416,874.36 | £0.00 |
How this is calculated
We use a constant annual interest rate divided into 12 monthly periods, with payments at the end of each month. Repayment mortgages clear the loan over the selected term. Interest-only payments do not reduce the balance: you need a separate plan to repay the capital, including any financed fees.
Fees entered as a percentage are calculated on the property price minus the deposit. Fees added to the loan attract interest; fees paid upfront do not. Monthly-payment mode estimates the rate that produces your payment over the selected term, allowing for rounding to the nearest penny. It does not calculate how much you can borrow.
Figures use unrounded payments, so lender statements may differ. Rate changes, daily interest, overpayments, early repayment charges and other costs are not modelled. Example rates are not offers.
Further guidance: MoneyHelper — interest-only and repayment mortgages.
Calculation method
Monthly payment = P × r ÷ (1 − (1 + r)⁻ⁿ)
For repayment mortgages, P is the loan after your deposit plus any financed fees, r is the annual interest rate divided by 100 and then 12, and n is the term in months. At 0% interest, divide the loan by the number of months. For interest-only mortgages, monthly payment = P × r, and the full capital remains due at the end.
Worked example
Borrowing £250,000 at a constant 4.5% annual rate over 25 years gives an estimated payment of £1,389.58 a month. Over the full term, the model calculates £416,874.36 repaid, including £166,874.36 interest. Totals use unrounded monthly figures, so multiplying the displayed payment may differ slightly.
Method documented: · How we check calculations · Report an error
Common questions
Does this tell me how much I can borrow?
No. It calculates repayments for an amount you enter. Lenders assess income, spending, credit history, deposit and other factors separately.
What if my fixed-rate deal ends before the mortgage term?
The calculator assumes one rate for the entire term. Run another scenario using a different rate to understand its effect, but do not treat that scenario as a forecast of the rate your lender will offer.
Are arrangement fees or overpayments included?
You can enter mortgage fees in pounds or as a percentage of the loan before fees, and choose to pay them upfront or add them to the mortgage. Financed fees increase the balance and attract interest. Overpayments and early repayment charges are not modelled.
What happens at the end of an interest-only mortgage?
The monthly payments cover interest, not the original loan. The calculator shows the full capital still owed, including any financed fees. You need a separate repayment plan. Total mortgage cost includes that final capital amount, while the graph shows payments before the final lump sum.
What does the monthly-payment option calculate?
It estimates the constant annual interest rate that matches the entered monthly payment, loan and term. It is not an affordability assessment, APRC calculation or mortgage offer. Payments too low to clear a repayment loan even at 0% are rejected.