Mortgage Repayment Calculator
See what a mortgage would cost you each month - and how the rate and term change the total interest you pay.
Enter a mortgage amount and rate to see your estimated monthly repayments.
Assumes a capital repayment mortgage with a fixed rate for the whole term. Your actual rate and payments depend on your deal and lender. This is an illustration, not financial advice. Your home may be repossessed if you do not keep up repayments on your mortgage.
Frequently asked questions
How are monthly mortgage repayments calculated?+
On a capital repayment mortgage, each payment covers that month’s interest plus a slice of the loan itself, calculated so the balance reaches zero at the end of the term. Early payments are mostly interest; later payments are mostly capital.
How does the mortgage term affect my payments?+
A longer term lowers the monthly payment but increases the total interest you pay overall. For example, stretching from 25 to 35 years can cut hundreds off the monthly cost but add tens of thousands in interest. Many borrowers start longer and shorten the term when remortgaging.
What happens to my payments when my fixed rate ends?+
You move onto your lender’s standard variable rate, which is usually much higher. Most people remortgage to a new deal before that happens - we track our clients’ deal end dates and search the market in advance so there are no surprises.
Should I choose interest-only or repayment?+
Repayment guarantees the loan is cleared by the end of the term and is right for most residential borrowers. Interest-only has lower monthly costs but requires a credible plan to repay the balance, and lenders apply stricter criteria. It is more common for buy-to-let.
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