UK Mortgage Calculator
Calculate monthly mortgage repayments, total interest payable, and see a full year-by-year amortisation schedule. Enter the property price, deposit, interest rate and term — plus an optional income check to see how much you can borrow.
Monthly payment (P&I)
25-year term
Total interest
Over full term
Total cost
Deposit + payments
Loan-to-value
Borrowing £270,000
| Year | Interest Paid | Principal Paid | Balance |
|---|---|---|---|
| 1 | £12,028 | £5,981 | £264,019 |
| 2 | £11,753 | £6,256 | £257,763 |
| 3 | £11,465 | £6,544 | £251,219 |
| 4 | £11,165 | £6,844 | £244,375 |
| 5 | £10,850 | £7,159 | £237,216 |
| 6 | £10,522 | £7,487 | £229,729 |
| 7 | £10,178 | £7,831 | £221,898 |
| 8 | £9,818 | £8,191 | £213,706 |
| 9 | £9,442 | £8,567 | £205,139 |
| 10 | £9,048 | £8,961 | £196,178 |
| 11 | £8,636 | £9,373 | £186,805 |
| 12 | £8,206 | £9,803 | £177,002 |
| 13 | £7,755 | £10,254 | £166,748 |
| 14 | £7,284 | £10,725 | £156,024 |
| 15 | £6,792 | £11,217 | £144,806 |
| 16 | £6,276 | £11,733 | £133,073 |
| 17 | £5,737 | £12,272 | £120,802 |
| 18 | £5,173 | £12,835 | £107,966 |
| 19 | £4,584 | £13,425 | £94,541 |
| 20 | £3,967 | £14,042 | £80,499 |
| 21 | £3,322 | £14,687 | £65,812 |
| 22 | £2,647 | £15,362 | £50,451 |
| 23 | £1,942 | £16,067 | £34,383 |
| 24 | £1,203 | £16,806 | £17,578 |
| 25 | £431 | £17,578 | £0 |
Don’t forget Stamp Duty
Stamp Duty Land Tax can add thousands to your purchase cost.
Already have a mortgage?
If your fixed or tracker deal is ending, compare your lender’s SVR against a new deal and see the exact month it breaks even.
Understanding your mortgage
Principal & Interest split
Each monthly payment is split between interest (the cost of borrowing) and principal (repaying the loan amount). Over time, the proportion shifts — early years are interest-heavy, later years principal-heavy. This is called amortisation.
Loan-to-Value (LTV) ratio
Your LTV is the loan amount divided by the property value, expressed as a percentage. A 90% LTV means a 10% deposit; a 60% LTV means a 40% deposit. Lower LTV ratios typically qualify for lower interest rates because the lender takes on less risk.
Term length impact
A longer mortgage term (30+ years) reduces your monthly payment but increases total interest payable over the life of the loan. A shorter term (15–20 years) means higher monthly payments but much less total interest. Many borrowers choose 25 years as a middle ground.
Overpayment strategy
Most UK lenders allow you to overpay up to 10% of the outstanding balance each year without penalty. Even small monthly overpayments can significantly reduce your total interest cost and shorten your mortgage term.
Tracker and variable rates move with the Bank of England base rate. See the current Bank Rate, the next decision date and the full rate history.