Mortgages & property
Mortgage repayment calculator
Enter your property price, deposit, interest rate and term to see your monthly mortgage payment, total interest and the impact of any overpayments.
- Monthly payment
- £1,322.88
- Total interest
- £158,864
- Total repaid
- £396,864
| Loan amount | £238,000 |
|---|---|
| Loan-to-value | 85.0% |
| Interest rate | 4.50% APR |
| Term | 25 years (300 months) |
| Monthly payment | £1,322.88 |
| Total cost over the term | £396,864 |
Capital and interest repayment. Assumes the same rate for the whole term — in practice you will remortgage every 2–5 years. Does not include fees, insurance or any product-fee added to the loan.
How it works
- We use the standard capital and interest repayment formula: monthly payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan, r is the monthly interest rate, and n is the number of months.
- Loan-to-value (LTV) is the loan as a percentage of the property price. Lower LTV usually unlocks cheaper rates: the biggest jumps are at 90%, 85%, 75% and 60%.
- The overpayment line uses the same formula but recalculates the balance each month after subtracting the larger payment, then counts how many months it takes to reach zero.
Common questions
- Why is my monthly payment slightly different from my lender's?
- Lenders use the same formula but may compound daily rather than monthly, and round figures slightly differently. Differences are usually a few pounds a month.
- Should I take the longest term?
- A longer term means a smaller monthly payment but a much larger total interest bill. Many lenders allow you to overpay later, so picking a slightly longer term and overpaying when you can is a flexible compromise.
- Does this include buildings insurance or fees?
- No. It shows only the mortgage repayment. Add buildings insurance (compulsory), service charges (for flats) and any product fee added to the loan.