Illustration
35-year mortgage term
At an example rate of 4.5%, a £300,000 repayment mortgage over 35 years is £1,419.77 a month before fees. Change the rate below. Bank Rate is 3.75% and is not this mortgage rate.
£300,000 over 35 years
The 4.5% starting figure is an example you can change. It is not a live product, a market average, or the rate a lender would offer.
£1,419.77
a month on a repayment basis, before fees
- Interest-only
- £1,125.00
- Total interest
- £296,303
- Total paid
- £596,303
- At 5.50%
- £1,611.05
| Term | Monthly | +1 point | +2 points | Total interest |
|---|---|---|---|---|
| 15 years | £2,294.98 | £2,451.25 | £2,613.32 | £113,096 |
| 20 years | £1,897.95 | £2,063.66 | £2,236.72 | £155,508 |
| 25 years | £1,667.50 | £1,842.26 | £2,025.62 | £200,249 |
| 30 years | £1,520.06 | £1,703.37 | £1,896.20 | £247,220 |
| 35 years | £1,419.77 | £1,611.05 | £1,812.46 | £296,303 |
| 40 years | £1,348.69 | £1,547.31 | £1,756.37 | £347,370 |
A longer term usually lowers the monthly payment and raises total interest if the rate stays the same. Lender maximum age and term rules vary.
| LTV | Property price | Deposit |
|---|---|---|
| 95% | £315,789 | £15,789 |
| 90% | £333,333 | £33,333 |
| 85% | £352,941 | £52,941 |
| 75% | £400,000 | £100,000 |
| 60% | £500,000 | £200,000 |
How the payment is calculated
The repayment figure uses the standard amortising formula: each month the balance is charged interest, then the payment reduces the balance. Interest-only is the annual rate divided by twelve, with the original loan still owed at the end. Fees, insurance and overpayments are excluded.
Reviewed 2026-10-02. The example rate is configured in one place so tables stay consistent.
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Your home may be repossessed if you do not keep up repayments on your mortgage.
These figures are illustrative.
An FCA-authorised broker can look at the actual income, credit and property. MortgageConnector introduces you. We do not choose the mortgage.
Find a brokerTerms shown in the table: 15, 20, 25, 30, 35, 40.