How to use
- Enter the property price and your deposit amount.
- Enter the annual interest rate your lender has quoted.
- Enter the mortgage term in years (25–35 years is most common for UK residential mortgages).
- Optionally enter a monthly overpayment to see how it reduces your total cost and term.
- Your monthly repayment, total repayable, and total interest all appear instantly.
About this tool
A repayment mortgage is the most common type of residential mortgage in the UK. Each monthly payment covers both the interest charged for that month and a portion of the outstanding capital, so your balance reduces to zero over the full term. The monthly cost is determined by three things: the loan amount (property price minus deposit), the interest rate, and the term. Even small overpayments each month can make a significant difference — because they reduce the outstanding balance sooner, less interest accrues over time. This calculator models that effect so you can see the potential saving. All figures are indicative only; you should speak to a qualified mortgage adviser before making any financial decisions.
For guidance only. Speak to a qualified mortgage adviser before making financial decisions.