UK Mortgage Calculator
Rates updated for 2025/26 tax year (from 6 April 2025)
Calculate monthly repayments on your UK mortgage. Enter your property price, deposit, interest rate, and term to see repayment and interest-only costs, total interest paid, and your loan-to-value ratio.
How mortgage repayments work
A repayment mortgage splits each monthly payment between interest on the outstanding loan and capital repayment. Early payments are mostly interest; over time, more goes toward reducing the balance. The standard annuity formula ensures you repay the full loan by the end of the term.
Interest-only vs repayment
With an interest-only mortgage, your monthly payments cover only the interest — the loan balance stays the same throughout the term. Monthly payments are lower, but you must repay the full capital at the end. Most residential lenders now require a repayment mortgage unless you have a clear repayment strategy.
Loan-to-value (LTV)
LTV is the ratio of your mortgage to the property value. A lower LTV (larger deposit) typically means better interest rates. Most lenders require at least a 5-10% deposit, and the best rates are usually available at 60% LTV or below.
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Your deposit amount in pounds