Mortgage Calculator UK
Calculate monthly payments, total interest, and see your full repayment schedule.
Monthly Repayment
£1,556
/month
£280,000
Loan Amount
£186,899
Total Interest
£466,899
Total Repaid
80%
LTV Ratio
Where Your Money Goes
Calculate stamp duty on this property →
See how much SDLT you'll pay on £350,000
How Mortgage Repayments Work
A repayment mortgage splits each monthly payment between interest and principal. In the early years, most of your payment goes toward interest. As the loan balance decreases, more goes toward principal — this is why the total interest paid can be surprisingly high.
What Affects Your Monthly Payment?
Property price and deposit determine your loan amount. A larger deposit means a lower LTV (loan-to-value) ratio, which typically qualifies you for better interest rates. Interest rate is the biggest factor — even 0.5% makes a significant difference over 25 years. Term length trades off between lower monthly payments (longer term) and less total interest (shorter term).
Current UK Mortgage Rates (April 2026)
Average 2-year fixed rates sit around 4.2-4.8% depending on LTV. 5-year fixes are typically 0.1-0.3% higher. Tracker mortgages follow the Bank of England base rate plus a margin. These rates change regularly — check with a mortgage broker for current offers.
Important Notes
This calculator shows repayment mortgages only (not interest-only). Results are estimates based on the interest rate remaining constant. In practice, you'll likely remortgage every 2-5 years at different rates. Always seek professional mortgage advice before making a decision.