Mortgage Repayment Calculator
Estimate your monthly UK mortgage repayment in seconds.
Enter Your Details
Fill in your mortgage details to calculate monthly payments
Your Monthly Payment
Based on the details you provided
Enter your details and click calculate to see your monthly payment
This calculator is for guidance only.
Results are illustrative estimates based on the figures you enter and do not constitute regulated mortgage advice, financial advice, or a binding quote. Mortgage rates and lender criteria change daily. For an accurate quote and advice tailored to your situation, speak to an FCA-authorised mortgage broker. MortgageConnector is not a broker — we are a free service that introduces you to one. Get matched with a broker.
Your home may be repossessed if you do not keep up repayments on your mortgage.
How this calculator works
The calculator uses the standard amortisation formula UK lenders apply to repayment mortgages: each monthly payment covers the interest accrued on the outstanding balance for that month plus a slice of the capital. Because the interest portion falls as the balance reduces, the capital portion grows over time even though the payment stays the same.
The figure shown is the capital-and-interest monthly payment only. It does not include:
- buildings insurance (typically £150–£400/year)
- life cover or income protection (optional)
- arrangement and product fees (often £0–£1,995 added to the loan or paid up front)
- valuation and survey costs (£300–£1,000)
- legal and conveyancing fees (£1,200–£2,500)
- Stamp Duty Land Tax (use the Stamp Duty calculator)
- leasehold ground rent and service charges (if applicable)
Rate assumption. The calculator assumes a single fixed rate over the whole term. UK mortgages typically fix for 2, 3, 5, or 10 years and revert to the lender's Standard Variable Rate (SVR) — usually significantly higher — unless you remortgage. Plan to remortgage before the fix ends.
What to do next. Use the result as a feasibility check, not a quote. Real lender offers depend on your LTV, credit profile, income type, and the lender's criteria on the day you apply. A whole-of-market broker can get you the rate you actually qualify for and structure your application to match a lender's criteria. Get matched with a broker.
FAQs
How is a UK mortgage repayment calculated?
The standard repayment mortgage formula amortises the loan over the term. Each monthly payment is M = P × (r × (1+r)^n) / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate / 12), and n is the total number of months (term × 12). Early payments are mostly interest; later payments are mostly capital.
What's the difference between repayment and interest-only?
A repayment (or 'capital and interest') mortgage clears the loan by the end of the term — what this calculator models. An interest-only mortgage charges only interest each month, with the full loan balance still owed at the end. Interest-only is now mainly used for buy-to-let and certain wealth-management cases; residential interest-only requires a credible repayment vehicle.
Does this include fees and insurance?
No. The calculator estimates the monthly mortgage repayment only. Add product fee (often £0–£1,995), valuation/survey, legal/conveyancing fees, building insurance, and (for leasehold) ground rent and service charges to get your true monthly cost of ownership.
What term should I choose: 25, 30, or 35 years?
A longer term lowers the monthly payment but increases total interest paid. A 35-year term keeps monthly cost manageable for first-time buyers; a 25-year term is the historical UK norm. Many lenders now allow terms up to age 70 or 75, subject to affordability. You can always overpay to reduce the effective term.
Is the rate I'll get the same as the rate I see advertised?
Not necessarily. Advertised rates assume a specific LTV, applicant profile, and product structure. Your actual rate depends on your deposit, credit profile, income, and the lender's criteria. A whole-of-market broker will get you the best rate you actually qualify for, often better than the advertised headline.