UK Mortgage Calculator
Monthly mortgage repayments, LTV and overpayments.
Mortgage type
Your result
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Enter your numbers to see the result.
This UK mortgage calculator works out your monthly mortgage payment in pounds from the property price, deposit, interest rate and term. It shows your loan-to-value (LTV), the total interest and total repaid, compares repayment and interest-only mortgages, and shows how regular overpayments can cut years off the term.
What is a UK Mortgage Calculator?
A UK mortgage is a loan secured on your home, usually repaid monthly over 25 to 35 years. With a repayment mortgage, each payment covers interest and some of the loan, so you own the home outright at the end. With an interest-only mortgage, you pay only the interest and must repay the whole loan at the end from another source.
Rates depend heavily on your loan-to-value (LTV): the loan as a share of the property price. Lenders offer better rates at lower LTV bands such as 60%, 75% and 85%. This UK mortgage calculator shows your payment, LTV band and the savings from overpaying.
How does the UK Mortgage Calculator work?
The loan is the price minus your deposit. For a repayment mortgage the monthly payment uses the standard amortisation formula with a monthly rate of the annual rate divided by 12. For interest only, it is the loan times the monthly rate. Overpayments are applied month by month to show the shorter term and interest saved.
How to use the UK Mortgage Calculator step by step
- Enter the property price and your deposit.
- Enter the interest rate of the deal.
- Choose the term.
- Pick repayment or interest only.
- Optionally add a monthly overpayment.
- Read the payment, LTV and interest saved.
UK Mortgage Calculator example with real numbers
Emily and James are buying a £300,000 home with a £30,000 deposit. They are offered a 4.5% rate on a 25-year repayment mortgage.
| Example input | Value |
|---|---|
| Property price | £300,000 |
| Deposit | £30,000 |
| Interest rate | 4.5% |
| Mortgage term | 25 years |
| Mortgage type | Repayment |
| Monthly overpayment (optional) | £0 |
| Example output | Value |
|---|---|
| Monthly repayment | £1,500.75 |
| Loan amount | £270,000 |
| Loan to value | 90.0% (90% band) |
| Total interest | £180,224 |
| Total repaid | £450,224 |
| Interest saved by overpaying | £0 |
| Time saved | None |
The UK mortgage calculator shows a monthly repayment of £1,500.75. Their LTV is 90.0% (90% band), and over 25 years they would pay £180,224 in interest.
Key features of this UK Mortgage Calculator
- Repayment and interest only
- LTV and band
- Overpayment savings
- Yearly balance table
- Prices in pounds
Who should use the UK Mortgage Calculator?
Who is this UK Mortgage Calculator for?
- First-time buyers
- Home movers
- People remortgaging
- Buy-to-let landlords comparing interest only
Practical use cases
- Checking affordability before a mortgage in principle
- Comparing 25 and 35-year terms
- Seeing the value of a bigger deposit
- Planning overpayments
Key benefits
- UK-specific: pounds and LTV bands.
- Two types: repayment and interest only.
- Overpayments: time and interest saved.
- Private: runs in your browser.
Tips for better results
- Moving into a lower LTV band can cut your rate.
- Check the early repayment charges before overpaying.
- Compare the total cost of a deal including arrangement fees.
- Use a broker to search the whole market.
Common mistakes to avoid
- Choosing the longest term just to cut the payment.
- Forgetting arrangement fees and Stamp Duty.
- Ignoring what happens when a fixed rate ends.
- Taking interest only without a repayment plan.
Limitations of this UK Mortgage Calculator
- The rate is assumed fixed for the whole term.
- Fees and Stamp Duty are not included.
- Lender affordability checks are not modelled.
UK Mortgage Calculator vs other ways to calculate
| Type | Monthly payment | Owe at the end |
|---|---|---|
| Repayment | Higher | Nothing |
| Interest only | Lower | Full loan |
| Part and part | In between | Part of the loan |
For Canadian homes, use the Canadian mortgage calculator. To value a buy-to-let, try the rental property calculator.
Privacy and data handling
This UK Mortgage Calculator runs entirely in your browser. The numbers you type are not sent to Qorico or stored on any server, and nothing is saved after you close the page. The Copy and Download buttons create the result on your own device. If the page has analytics turned on, it may count that a calculation happened, but it does not record the values you entered.
UK Mortgage Calculator FAQs
How much would my mortgage be on £300,000?
With a £30,000 deposit at 4.5% over 25 years, about £1,500 a month. Enter your figures above.
What is LTV?
Loan to value: your mortgage as a percentage of the property price.
Can I overpay my mortgage?
Most deals allow up to 10% of the balance a year without early repayment charges; check yours.
Repayment or interest only?
Repayment clears the loan; interest only is cheaper monthly but you must repay the loan at the end.
How long can a UK mortgage term be?
Commonly 25 to 35 years, and sometimes up to 40.
Does the calculator include Stamp Duty?
No. Budget for Stamp Duty, fees and legal costs separately.
Related tools
Sources and references
We checked the method and the current figures used in this UK Mortgage Calculator against these official and primary sources:
Written and reviewed by the Qorico Team
