Mortgage Repayment Calculator

Estimate your monthly UK mortgage repayment in seconds.

Enter Your Details

Fill in your mortgage details to calculate monthly payments

Loan Amount (£)

Interest Rate (%)

Loan Term (Years)

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
life cover or income protection (optional)
arrangement and product fees, whether paid upfront or added to the loan
valuation and survey costs
legal and conveyancing fees
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) unless another product is arranged. The SVR can be higher or lower than the old payment, so review options 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. Ask a broker which lenders and products it can consider, how it is paid and what fees apply. 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 any product, valuation, survey, advice and legal fees, buildings insurance, and relevant leasehold charges to understand the wider cost of ownership.

What term should I choose: 25, 30, or 35 years?

A longer term usually lowers the monthly payment but increases total interest if the rate and other assumptions stay the same. Available terms and maximum age criteria vary by lender. Overpayments depend on the mortgage terms and can trigger a charge if an allowance is exceeded.

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. The products available depend on the full application and lender criteria. Compare total cost and ask a broker which lenders and products its service can consider.