UK Mortgage Calculator 2025/26
Work out your monthly mortgage repayments and total cost over the full term. Supports both repayment and interest-only mortgages.
✓ Repayment & interest-only✓ Shows total interest✓ Calculates LTV
Last updated: April 2026
Monthly payment
£0
repayment
Total repaid
£0
over full term
Total interest
£0
0% of loan
Loan vs interest
Full breakdown
| Property price | |
| Deposit | |
| Loan amount | |
| Interest rate | |
| Mortgage term | |
| Monthly payment | |
| Total interest | |
| Total repaid | |
This calculator provides an estimate only. Actual mortgage payments may vary based on your lender, product fees, and individual circumstances. Always speak to a qualified mortgage adviser before making a decision.
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How are mortgage repayments calculated?
For a repayment mortgage, each monthly payment covers both interest and a portion of the capital. The standard formula is M = P × r × (1+r)n / ((1+r)n − 1), where P is the loan, r is the monthly interest rate, and n is the number of monthly payments.
For an interest-only mortgage, monthly payments only cover the interest. The full loan amount remains outstanding at the end of the term and must be repaid separately.
What is LTV (Loan to Value)?
LTV is your mortgage as a percentage of the property value. A 10% deposit means a 90% LTV. Lower LTV generally means access to better interest rates — most lenders offer their best rates at 60% or 75% LTV.
Frequently asked questions
How much can I borrow for a mortgage?
Most lenders will offer between 4 and 4.5 times your annual income. Some lenders go up to 5 or 5.5 times income for higher earners or specific professions. A mortgage adviser can find the best deal for your circumstances.
What's the difference between fixed and variable rates?
Fixed-rate mortgages lock in your interest rate for an agreed period (typically 2 or 5 years). Variable-rate mortgages can change with the Bank of England base rate or your lender's standard rate.
Should I choose repayment or interest-only?
Repayment is far more common for residential buyers because you own the property outright at the end. Interest-only has lower monthly payments but requires a credible repayment strategy for the capital, which most residential lenders require proof of.