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Enter your loan amount, mortgage term, and repayment type to get an instant estimate of your monthly repayments, then speak to an advisor to see how it fits your circumstances.
A mortgage calculator estimates your monthly mortgage repayments by working out how a loan amount would be repaid over a set mortgage term.
Because rates and lender criteria change frequently, a calculator gives you a starting estimate rather than a guaranteed figure. Speak to an advisor for a more accurate picture based on your full circumstances.
Our mortgage calculator helps UK homebuyers and homeowners work out an estimate of their monthly mortgage repayments before speaking to a lender or advisor. You can use it whether you're buying your first home, moving house, or reviewing an existing mortgage.
To get started, you'll need three things: an idea of the property price and deposit you have available, the mortgage term you're considering, and whether you want a repayment or interest-only mortgage.
The estimate the calculator produces is a helpful starting point, not a mortgage offer. Your actual monthly repayment will depend on the interest rate a lender offers you, which varies based on your deposit, credit history, income, and the lender's current criteria.
How it works
Enter your property price and deposit
Work out your loan amount by subtracting your deposit from the property price you're considering.
Choose your mortgage term
Most mortgages run for 25 to 35 years, though some lenders offer shorter or longer terms depending on your age and circumstances.
Select repayment or interest-only
Choose whether you want to pay off the loan itself as well as interest each month, or interest only.
Review your estimate and next steps
Use your estimate to work out what fits your budget, then speak to an advisor to find out what you could realistically be offered.
Several factors influence how much your mortgage repayments will be each month.
Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
The interest rate you're offered can vary a lot between lenders for the exact same deposit and income. It's worth comparing more than one lender before deciding, rather than assuming the first offer you see is representative of what's available.
Your deposit is the difference between the property price and the loan amount, so a bigger deposit means a smaller loan and, in turn, a smaller monthly repayment.
The table below shows how the deposit you put down changes the amount you'd need to borrow on a £250,000 property.
A larger deposit also usually means a lower loan-to-value, which can open up access to a wider range of lenders and more competitive rates.
Next steps
An advisor can look at your income, credit history, and deposit to give you a clearer picture of what you could actually be offered.
Most residential mortgages are capital repayment mortgages, where each monthly payment covers the interest plus a portion of the loan itself. By the end of the mortgage term, you'll have paid off the loan in full and own the property outright.
With an interest-only mortgage, your monthly payment covers the interest only, so the loan balance doesn't reduce. You'll need a separate, credible repayment plan, such as savings, investments, or selling the property, to clear the balance at the end of the term. Interest-only mortgages are far less common for residential purchases and are usually reserved for specific circumstances.
The mortgage term is how long you have to repay the loan in full, typically between 25 and 35 years, though some lenders offer terms as short as 5 years or as long as 40, depending on your age and circumstances.
Choosing a longer term spreads your repayments over more months, which lowers what you pay each month but increases the total interest you'll pay over the life of the mortgage. A shorter term means higher monthly repayments but less interest overall, and you'll own your home outright sooner.
Circumstances change, so it's worth reviewing your mortgage term whenever you remortgage, rather than sticking with the same length by default.
If your income has grown since you last took out a mortgage, shortening your term at your next remortgage could clear your mortgage sooner without necessarily increasing your monthly repayment by much. It's worth running the numbers with an advisor rather than assuming your original term is still the right fit.
Rate types
This calculator is designed to give you a general estimate of your monthly repayments. Depending on what you're trying to work out, another calculator might be more useful.
A mortgage calculator is a useful first step, but it can't take into account everything a lender will look at, such as your credit history, employment status, or existing financial commitments.
An advisor can compare your circumstances against a wide range of lenders and criteria to give you a more accurate picture of what you're likely to be offered, along with guidance on which deals suit your plans.
Next steps
Get a mortgage in principle
A lender or advisor gives you an estimate of how much you could borrow based on a quick assessment of your circumstances.
Share your income and outgoings
Your advisor reviews your income, existing commitments, and deposit to understand your full financial picture.
Your advisor compares lenders
We compare a wide range of lenders to find options that suit your circumstances, rather than a single provider's range.
Receive a recommendation
Your advisor explains the options available, including the rates, fees, and terms for each.
Submit your application
Once you've chosen a deal, your advisor handles the application and keeps you updated at every stage.
Common questions
A mortgage calculator gives you a useful estimate based on the figures you enter, but it isn't a mortgage offer. Your actual rate and repayment will depend on your credit history, income, deposit, and the lender's current criteria, so it's worth speaking to an advisor to check what you'd realistically be offered.
You'll typically need the property price, your deposit amount, the mortgage term you're considering, and whether you want a repayment or interest-only mortgage. Having these figures to hand gives you the most useful estimate.
No, using a mortgage calculator has no impact on your credit score. It's a simple tool that works from the figures you enter and doesn't involve a credit check. A credit check only happens later, when you formally apply for a mortgage or a mortgage in principle.
A mortgage calculator gives you a rough estimate based on figures you enter yourself. A mortgage in principle is an indication from a specific lender, based on a check of your credit history and circumstances, of how much they might be willing to lend you. It carries more weight with estate agents and sellers than a calculator estimate.
Yes, the calculator works the same way regardless of your employment status. The main difference for self-employed applicants tends to be how lenders assess your income, often based on an average of your last 2 to 3 years of accounts, so it's worth speaking to an advisor who understands self-employed applications.
It depends on your priorities. A shorter term means higher monthly repayments but less interest paid overall and mortgage-free sooner. A longer term reduces your monthly repayment but increases the total interest you'll pay. An advisor can help you weigh this up against your income and other financial goals.
Most residential mortgages require a minimum deposit of 5% of the property price, though a larger deposit usually gives you access to more competitive rates and a wider range of lenders. Enter whatever deposit you have available to see how it affects the amount you'd need to borrow.
Speak to your lender as early as possible if you're concerned about affording your repayments, as they have processes in place to help. You can also get free, independent guidance from MoneyHelper (moneyhelper.org.uk, 0800 138 7777), which is backed by the government and can talk you through your options.
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