Mortgage Calculator
Work out your monthly mortgage repayment, total interest and loan-to-value.
Mortgage Details
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£
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Repayment Summary
Monthly Payment
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Loan amount—
Loan-to-value (LTV)—
Total interest—
Total repaid—
Frequently Asked Questions
On a repayment mortgage the monthly payment is M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan (price minus deposit), r is the monthly interest rate (annual ÷ 12 ÷ 100) and n is the number of monthly payments.
LTV is the loan as a percentage of the property price. A £270,000 loan on a £300,000 home is 90% LTV. Lower LTV usually unlocks better rates.
This calculator shows a capital-and-interest (repayment) mortgage. On interest-only you would pay just the interest each month and repay the capital separately at the end.
How Mortgage Repayments Work
Your monthly mortgage payment depends on three things: how much you borrow (the property price minus your deposit), the interest rate, and the term in years. A bigger deposit means a smaller loan, a lower loan-to-value, and usually a better rate.
Worked example
On a £300,000 home with a £30,000 deposit, you borrow £270,000 (90% LTV). At 4.5% over 25 years that is about £1,501 a month, repaying roughly £450,000 in total — of which about £180,000 is interest.
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