Mortgage Calculator UK - Quick Estimate Your Monthly Payments
Calculate your monthly mortgage payments, total repayment, and interest costs. See how different deposit amounts, interest rates, and mortgage terms affect your payments.
Mortgage Details
Additional Options
Monthly Payment
£0
Total Repayment
£0
Total Interest
£0
Payment Breakdown
Cost Distribution
Key Metrics
Payment Over Time
Amortization Schedule
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|
Related & Other Popular Calculators, Tools
Purchasing a property represents one of the largest financial decisions you will ever undertake and knowing the exact cost of your mortgage is clearly important. Our Mortgage Calculator UK enables you to quickly calculate monthly payments, total repayment, and the total interest you will pay, all within seconds. So whether you are a first-time buyer, moving home, or remortgaging, this free tool provides a clear summary of the costs involved, what repayments may look like, and let you know where you are with your loan affordability.
Our Mortgage Calculator UK allows you to adjust the property price, deposit amount, interest rate, and the mortgage term, so you can see how it relates to your payments. In addition to instant results, the calculator provides an amortization schedule, breakdown of the payments, and a visual effect showing how your loan will reduce over the years.
Why Use Our Mortgage Calculator UK?
Our Mortgage Calculator UK is suitable for anyone who wants to gain clarity into their mortgage before applying.
How the Mortgage Calculator UK Works
The Mortgage Calculator UK employs the standard UK mortgage repayment formula to calculate your monthly payment based on the following:
Once you enter these details, our Mortgage Calculator UK instantly provides:
Which gives you a better understanding of costs and variables when determining affordability and total costs across the lifespan of the mortgage.
Advantages of Using the Mortgage Calculator UK:
Using the Mortgage Calculator UK means making more intelligent property buying decisions.
Example:
If you're purchasing a property worth £250,000 with a deposit of £50,000 and an interest rate of 3% for 25 years duration, the online Mortgage Calculator UK will show you:
This gives you an understanding of what you are really paying for your mortgage.
FAQs
Mortgage Calculators UK are online tools which help you to estimate your monthly mortgage payments, total repayment and total interest costs based on property price, deposit, interest rate and term.
Yes, our Mortgage Calculator UK uses common UK mortgage formulas. But bear in mind, lenders may vary their rates and will add in costs such as fees, may differ in eligibility, eligibility requirements, and may vary in credit scores.
Yes, the calculator allows you to either select repayment or interest-only to compare the differences in your payments.
Yes, the larger the deposit reduces the amount of the loan and monthly repayments and a decrease in total interest. The Mortgage Calculator UK will instantly reflect the changes to the results based on your deposit.
Yes, the Mortgage Calculator UK is capable for first-time buyers, existing homeowners or investors, to calculate mortgage affordability.
Using the Mortgage Calculator UK provides you with a better sense of budgeting, comparison of mortgage deals, and least amount of oversize financial commitment before applying to a lender.
Note: This calculator provides estimates only. Actual mortgage offers may vary based on lender criteria and individual circumstances.