Mortgage Calculator (UK, 2026)
Free monthly-payment calculator for any UK mortgage. Enter a price, deposit, rate and term — see your payment, total interest, and a comparison matrix across rates and terms. Defaults use Bank of England's recent quoted rate.
Monthly payment matrix
£245,000 loan, monthly payment by interest rate × term. Compare 2/5/10-year fixes by entering their rate above; this matrix shows where you'd land if rates moved.
| Rate \ Term | 20 yrs | 25 yrs | 30 yrs | 35 yrs |
|---|---|---|---|---|
| 3.5% | £1,421 | £1,227 | £1,100 | £1,013 |
| 4.0% | £1,485 | £1,293 | £1,170 | £1,085 |
| 4.5% | £1,550 | £1,362 | £1,241 | £1,159 |
| 5.0% | £1,617 | £1,432 | £1,315 | £1,236 |
| 5.5% | £1,685 | £1,505 | £1,391 | £1,316 |
| 6.0% | £1,755 | £1,579 | £1,469 | £1,397 |
15-year mortgage repayment
A 15-year mortgage repayment plan front-loads the principal: monthly payments are higher than longer terms, but the total interest paid over the life of the loan is dramatically lower because the balance amortises fast. Use the dedicated 15-year mortgage calculator for term-specific payment tables and FAQs, or set Term (years) to 15 in the calculator above.
15-year mortgage repayment is most common for remortgagors who already have equity and want to be mortgage-free in their fifties or sixties. The 15-year rate is often slightly lower than the 25-year rate because lender risk drops with the shorter horizon — compare the column in the matrix above against the 25- and 30-year columns to see the trade-off in pounds per month.
20-year mortgage repayment
A 20-year mortgage repayment sits between the aggressive 15-year and the standard 25-year UK norm. It typically cuts total interest by 25–35% versus a 25-year term while only adding around £80–£150/month on a £200k loan at today's rates. Use the dedicated 20-year mortgage calculator, or set Term (years) to 20 in the calculator above.
20-year mortgage repayment is popular with second-time buyers in their late thirties who want to clear the mortgage by retirement age. Run it at a few different rates in the rate × term matrix above to see how rate moves affect the monthly over a 20-year horizon.
25-year mortgage repayment
25-year mortgage repayment is the UK default — the most common term for first-time and home-mover mortgages. It balances an affordable monthly payment with a reasonable total interest bill. The calculator above defaults to a 25-year term so you can see your payment immediately; the matrix shows how your monthly changes if you flex up to 30 years or down to 15.
On a £200k loan at 4.32%, a 25-year mortgage repayment is roughly the point where the principal-to-interest ratio in your monthly payment flips from interest-heavy to principal-heavy around year 12. Use the comparison matrix to weigh 25 years against a 20-year repayment if you can absorb a slightly higher monthly.
30-year mortgage repayment
30-year mortgage repayment minimises the monthly payment at the cost of a much larger total interest bill — often £40,000–£60,000 more than the same loan over 25 years. Use the dedicated 30-year mortgage calculator, or set Term (years) to 30 in the calculator above.
30-year mortgage repayment is most useful for younger first-time buyers stretching affordability, or where stress-testing at the lender's higher reversion rate would otherwise cap the loan. Many borrowers take a 30-year term then overpay — the mortgage comparison tool models overpayments and shows how quickly they shorten the effective term.
How it works
The calculator uses the standard amortising-loan formula:
M = P × (i × (1+i)n) / ((1+i)n − 1)
Where P is the loan amount (price minus deposit), i is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments (term × 12). Interest is calculated on the outstanding balance, so the early years are interest-heavy.
Quick examples
- £200k home, 10% deposit, 25 years at 4.32%
- £300k home, 20% deposit, 25 years at 4.32%
- £500k home, 20% deposit, 30 years at 4.32%
- £750k home, 20% deposit, 25 years at 4.5%
Comparing several products?
This page calculates one mortgage at a time. To put 2+ products side-by-side — fees, fixed period, the principal you actually repay over the fix, and the balance you'll remortgage from — use the mortgage comparison tool. Lenders' "total cost over the initial period" headline hides the principal-repayment difference; that tool surfaces it.
Related guides
- Mortgage comparison tool — true cost vs. principal repaid for multiple products
- Term-specific calculators: 10-year · 15-year · 20-year · 30-year
- Cost Intelligence guides
- Stamp Duty calculator
- House prices by UK local authority
This calculator is a general-information tool, not a mortgage offer or financial advice. Your actual rate depends on lender, LTV, credit profile, product fees and stress-test outcomes. Speak to a regulated mortgage adviser before committing. Source for default rate: Bank of England's monthly effective interest rates.