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Mortgage Calculator
Calculate your monthly payments, total interest, and loan summary
🏡 UK mortgage calculator • Estimates for repayment mortgages • Updated 2026/2027
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Loan to value (LTV)
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Calculate your mortgage payments instantly — fast, free, no signup
How to Use This Mortgage Calculator
Enter your property price, deposit amount, interest rate, and loan term to see your monthly payments, total interest, and full amortization schedule. Our calculator shows both repayment and interest-only mortgage options for UK home buyers.
Understanding Your Results
- Monthly payment: Your regular payment to the lender
- Loan amount: Property price minus your deposit
- Loan to Value (LTV): Percentage of the property value you're borrowing. Lower LTV often means better interest rates
- Total interest: The total cost of borrowing over the full term
- Amortization schedule: Year-by-year breakdown showing how your debt reduces over time
Repayment vs Interest-Only Mortgages
Repayment mortgage: Your monthly payments cover both the interest and the capital. The loan is fully paid off by the end of the term.
Interest-only mortgage: Your payments only cover the interest. You'll need a separate repayment plan to pay off the capital at the end of the term.
UK Mortgage Tips
- ✅ Aim for at least 10-15% deposit to access better interest rates
- ✅ Get a Mortgage in Principle before house hunting
- ✅ Compare rates from multiple lenders
- ✅ Consider using a mortgage broker for expert advice
- ✅ Factor in additional costs: stamp duty, legal fees, surveys, moving costs
Stamp Duty Land Tax (SDLT) 2026/2027
For UK property purchases, additional stamp duty may apply. First-time buyers get relief on properties up to £425,000. Standard rates: 0% up to £250,000, 5% £250,001-£925,000, 10% £925,001-£1.5m, 12% above £1.5m.
Frequently Asked Questions
- What deposit do I need? — Minimum 5-10% for most mortgages. Larger deposits (20%+) get better rates.
- How much can I borrow? — Typically 4-4.5 times your annual income, depending on lender and circumstances.
- What affects my interest rate? — Loan size, deposit amount, credit score, loan term, and Bank of England base rate.
- Should I fix or variable? — Fixed rates offer stability, variable rates may be cheaper initially but can change.