Mortgage Calculator
Calculate your monthly mortgage payment
This is a guide to how much you'd pay each month. The exact amount will depend on the type of mortgage and the lender.
If you already have a mortgage and want to work out how much an interest rate rise will impact your payments, then , in ‘price of property’ enter how much you have left to pay on your mortgage, put nothing in deposit.
Plan ahead and estimate your monthly payment now.
This is a guide to how much you'd pay each month. Adjust the sliders to change the term to the number of years you have left to pay, and increase the interest rate. The exact amount will depend on the type of mortgage and the lender.
Repayment
£0.00
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a month
You pay off what you borrowed for the mortgage, plus the interest.
Interest Only
£0.00
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a month
You only pay off the interest on the mortgage.
You'll need to pay back the amount you borrowed as well, so you must have a repayment plan in place.
Make sure you can afford it!
If your interest rate goes up by 3% your monthly payment will be
Repayment:
£0.00
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Interest only:
£0.00
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Three steps to lower your monthly payments:
- Increase your deposit Ideas to help you save money (opens in a new window)
- Find a cheaper property Consider looking in other areas
- Shop around for a better mortgage deal Use APR and total amount payable to compare the true cost of deals (opens in a new window)
Learn about LTV:
Having a bigger deposit or buying a cheaper property means the amount you need to borrow is smaller compared with the property's value. This is known as the Loan To Value ratio (LTV). With a lower LTV, you might be able to get a lower interest rate. Read more about choosing a mortgage (opens in a new window)
Find out more:
- Mortgage comparison table (opens in a new window)
- Choose the right mortgage (opens in a new window)
- Affordable housing schemes (opens in a new window)
- Interest rates explained (opens in a new window)
- Think about other costs (opens in a new window)
- Interest rate rises: What you can do now (opens in a new window)
Have you tried?
Important:
Before applying for a mortgage, it's best to check your credit rating and make sure you're registered on the electoral roll.
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