Free mortgage (uk) calculator
Calculate UK mortgage payments using the standard residential formula — enter loan amount, annual rate, and term in years, updated live, as you type.
On this page10 sections
Taxes, insurance & fees
All results are estimates. How accurate is this?
Your loan over time
Full Amortization Schedule
Your mortgage payment is $2,447.62 per month for a $400,000 home.
| Home price | $400,000.00 |
| Down payment | $80,000.00 (20%) |
| Loan amount | $320,000.00 |
| Interest rate | 6.5% |
| Loan term | 30 years (360 payments) |
| Principal & interest | $2,022.62 |
| Property tax (mo) | $300.00 |
| Home insurance (mo) | $125.00 |
| Total monthly payment | $2,447.62 |
| Total of 360 payments | $728,142.36 |
| Total interest paid | $408,142.36 |
How does the term affect my payment?
How does the down payment affect my payment?
Payment schedule
| # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Aug 2026 | $2,022.62 | $289.28 | $1,733.33 | $319,710.72 |
| 2 | Sep 2026 | $2,022.62 | $290.85 | $1,731.77 | $319,419.86 |
| 3 | Oct 2026 | $2,022.62 | $292.43 | $1,730.19 | $319,127.44 |
| 4 | Nov 2026 | $2,022.62 | $294.01 | $1,728.61 | $318,833.43 |
| 5 | Dec 2026 | $2,022.62 | $295.60 | $1,727.01 | $318,537.82 |
| 6 | Jan 2027 | $2,022.62 | $297.20 | $1,725.41 | $318,240.62 |
| 7 | Feb 2027 | $2,022.62 | $298.81 | $1,723.80 | $317,941.80 |
| 8 | Mar 2027 | $2,022.62 | $300.43 | $1,722.18 | $317,641.37 |
| 9 | Apr 2027 | $2,022.62 | $302.06 | $1,720.56 | $317,339.31 |
| 10 | May 2027 | $2,022.62 | $303.70 | $1,718.92 | $317,035.62 |
| 11 | Jun 2027 | $2,022.62 | $305.34 | $1,717.28 | $316,730.27 |
| 12 | Jul 2027 | $2,022.62 | $307.00 | $1,715.62 | $316,423.28 |
Results are estimates. Consult a professional.
How the UK mortgage calculator works
UK repayment mortgages use the same amortization formula as US loans, but with British defaults: loan amounts in pounds, a standard term of 25 years, and rates closer to those set by the Bank of England base rate environment. The calculator shows your monthly repayment, total interest, and total amount repayable across the full term.
UK buyers also face stamp duty land tax (SDLT in England/Northern Ireland), land and buildings transaction tax (LBTT in Scotland), or land transaction tax (LTT in Wales) on top of the mortgage. The First Homes scheme, Shared Ownership, and Help to Buy equity loan (now closed to new applicants) are the main government support routes for first-time buyers.
Bank of England mortgage rates data; UK Finance 2024 mortgage market review.Worked example: £350,000 at 5.5% over 25 years
A UK homebuyer takes out a £350,000 repayment mortgage at 5.5% over a standard 25-year term. What is the monthly payment and total cost?
UK monthly repayments at common loan sizes and rates
The table shows monthly repayment amounts for common UK mortgage sizes at three rate levels over a 25-year term. Use it to benchmark a lender's quote or estimate affordability before getting an Agreement in Principle.
| Loan amount | 4.5% rate | 5.5% rate | 6.5% rate |
|---|---|---|---|
| £200,000 | £1,111/mo | £1,222/mo | £1,349/mo |
| £300,000 | £1,667/mo | £1,833/mo | £2,023/mo |
| £350,000 | £1,945/mo | £2,139/mo | £2,360/mo |
| £500,000 | £2,778/mo | £3,056/mo | £3,372/mo |
Source: Bank of England mortgage data; UK Finance. 25-year repayment term. Rates as at mid-2024. Does not include buildings insurance, life assurance, or mortgage protection.
Most UK fixed-rate deals last 2 or 5 years, after which borrowers remortgage. The rate above is what you lock in for the fixed period; at remortgage you get a new rate at whatever the market offers.
Tips for UK mortgage borrowers
UK mortgages differ from US loans in key ways. Knowing the differences helps you compare deals accurately and avoid common first-timer mistakes.
- Fix for 5 years to reduce remortgage risk — a 2-year fix saves money if rates fall but exposes you to remortgage risk sooner. In a high-rate environment, most borrowers prefer the certainty of a 5-year fix even at a small rate premium.
- Budget for stamp duty on top of the deposit — stamp duty (SDLT) can add thousands. In 2024, first-time buyers pay 0% up to £425,000, 5% on £425k–£625k. Second-home buyers pay an additional 3% surcharge on top of standard rates.
- Get an Agreement in Principle (AIP) before viewing homes — UK estate agents often require an AIP to make an offer. It is a credit-checked, non-binding indication of how much a lender will lend. Valid for 60–90 days.
- Overpayments can shorten the term — most UK lenders allow 10% of the outstanding balance in overpayments per year without penalty. Applied to principal, this cuts the term and total interest exactly as it would on a US loan.
- Check the APRC, not just the headline rate — Annual Percentage Rate of Charge (APRC) is the UK equivalent of APR. It includes all fees across the full mortgage term and is the most honest way to compare competing offers.
Accuracy and limitations
Monthly repayment figures are calculated using the standard amortization formula and match those produced by UK high-street lenders to within normal rounding tolerances. The calculator models a repayment mortgage only — not interest-only, tracker ARMs, or offset mortgages. Stamp duty, survey fees, solicitor fees, and mortgage arrangement fees are not included in the monthly payment. Rates change frequently; confirm the current rate with your lender or a whole-of-market broker before making a decision.
Not financial advice — consult a mortgage professional for your specific situation.
UK mortgage terms defined
About this UK mortgage calculator
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