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)
£1,500.7525-year term
Total Interest
£180,224Over full term
Total Cost
£480,224Deposit + payments
Loan-to-Value
90.0%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.