Calculate your monthly mortgage repayments based on loan amount, interest rate and term, for both repayment and interest-only mortgages.
The amount you're borrowing
Your mortgage's annual interest rate
How many years you'll repay over
Monthly repayment
£1,535.22
Capital and interest
This result is an estimate only and does not constitute financial advice.
Interest-only equivalent
£1,145.83
Interest only — capital still owed at the end
This result is an estimate only and does not constitute financial advice.
Total repaid over the term
£460,566
This result is an estimate only and does not constitute financial advice.
Total interest paid
£210,566
This result is an estimate only and does not constitute financial advice.
Your monthly mortgage repayment is made up of two parts: the interest charged on the amount you've borrowed, and the capital you're gradually paying off. On a standard repayment mortgage, every payment includes both elements, so the balance you owe steadily reduces until the mortgage is paid off at the end of the term.
The size of your monthly repayment depends on three things: how much you borrow, the interest rate you're charged, and the length of the mortgage term. A longer term spreads the capital over more payments, which lowers your monthly repayment but increases the total interest you'll pay over the life of the loan. A shorter term does the opposite — higher monthly payments, but significantly less interest overall.
This calculator also shows what your payment would look like on an interest-only basis, where you pay only the interest each month and none of the capital. Interest-only payments are noticeably lower, but the full loan amount is still owed at the end of the term and needs to be repaid separately, usually through savings, investments or selling the property.
Even small changes in interest rate can make a meaningful difference to your monthly payment and total interest paid, particularly on larger loans or longer terms. That's why it's worth comparing rates carefully rather than assuming your current lender is offering the best deal, especially if you're coming to the end of a fixed-rate period.
The figures here are for a standard capital repayment mortgage with a fixed rate held constant for the whole term. In reality, rates can change if you're on a variable or tracker deal, or when your current fixed period ends and you move onto a new rate.
Use the calculator above to compare how different rates and terms affect your monthly payment before you commit to a deal.
A repayment mortgage pays off both interest and capital each month, so the loan is fully cleared by the end of the term. An interest-only mortgage only covers the interest, meaning your monthly payments are lower but you still owe the full amount borrowed at the end, which needs to be repaid separately.
A longer term lowers your monthly repayment because the capital is spread over more payments, but you'll pay more interest overall across the life of the mortgage. A shorter term costs more each month but reduces the total interest paid.
Your repayment recalculates whenever your interest rate changes, such as when a fixed-rate deal ends and you move to a new rate or your lender's standard variable rate. The remaining balance and term also affect the new figure.
No, this figure covers capital and interest only. Product fees, valuation costs, and any insurance such as buildings cover or mortgage protection are separate and should be added to your overall budget.
Compare mortgage deals from across the market to see if you could lower your monthly repayment.