Estimate your monthly payments and total cost
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Total repayable
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Total interest
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Interest / loan ratio
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Our free UK mortgage and loan calculator gives you an instant estimate of your monthly repayments, total amount repayable, and total interest charged — all without needing to speak to a broker or register for anything. Simply enter your loan amount, annual interest rate, and term, then choose between a repayment mortgage and an interest-only mortgage to see your figures update in real time.
A repayment mortgage means each monthly payment covers both the interest charged and a portion of the capital you borrowed. Over the full term, you'll clear the debt entirely. An interest-only mortgage keeps your monthly payments lower because you only pay the interest each month — however, the original loan balance remains outstanding at the end of the term and must be repaid separately. Most residential lenders now require a credible repayment strategy before offering interest-only products.
Making overpayments — even small ones — can dramatically reduce the total interest you pay and shorten your mortgage term. Use the Overpayments panel in the calculator to see exactly how much you could save by paying an extra amount each month or making a one-off lump-sum payment. Many lenders allow overpayments of up to 10% of the outstanding balance per year without incurring early repayment charges, so it's always worth checking your mortgage terms.
Stamp Duty Land Tax applies to property purchases in England and Northern Ireland. The amount you pay depends on the purchase price and your buyer status. First-time buyers benefit from relief on properties up to £625,000, while buyers of additional properties pay a surcharge on top of the standard rates. Our built-in stamp duty calculator automatically applies the correct thresholds for standard buyers, first-time buyers, and those purchasing an additional or buy-to-let property.
Your loan-to-value ratio — the size of your mortgage as a percentage of the property's value — is one of the biggest factors lenders use when setting your interest rate. Generally, the lower your LTV, the more competitive the rates available to you. A deposit of 40% or more (60% LTV) typically unlocks the best deals on the market. Use the Deposit / LTV panel to see how different deposit amounts affect your loan size and LTV band.
Headline interest rates don't always tell the full story. Arrangement fees, valuation fees, and legal costs can add thousands of pounds to the overall cost of a mortgage. Our calculator factors in these additional costs to show you a more accurate effective monthly payment, helping you compare deals on a like-for-like basis rather than being drawn in by a low rate with high fees attached.
This calculator uses standard financial formulas to produce accurate indicative figures based on the information you enter. Results are for illustrative purposes and assume a fixed interest rate throughout the term. Your actual repayments may vary depending on your lender's specific terms, rate changes on variable or tracker mortgages, and any fees added to the loan.
Yes — the calculator works for any amortising loan. Simply enter the loan amount, APR as the interest rate, and the term in years. The repayment option will give you your monthly instalment and total cost, which is exactly how personal loans and car finance agreements are structured.
An amortisation schedule breaks down every year of your mortgage, showing how much of each payment goes towards interest versus capital repayment. In the early years of a repayment mortgage, the majority of your monthly payment covers interest. As the loan balance reduces, the proportion going towards capital increases. Expanding the Amortisation Table panel lets you see this year-by-year breakdown for the full term of your loan.
For illustrative purposes only. Consult a qualified mortgage adviser before making financial decisions.