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
£250,000 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% | £1,450 | £1,252 | £1,123 | £1,033 |
| 4.0% | £1,515 | £1,320 | £1,194 | £1,107 |
| 4.5% | £1,582 | £1,390 | £1,267 | £1,183 |
| 5.0% | £1,650 | £1,461 | £1,342 | £1,262 |
| 5.5% | £1,720 | £1,535 | £1,419 | £1,343 |
| 6.0% | £1,791 | £1,611 | £1,499 | £1,425 |
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 calculator above with Term (years) set to 15 to see your exact monthly payment, or jump straight to a £240k loan at 15 years.
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. Set the Term (years) input on the calculator above to 20 to see your exact monthly payment and total interest.
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. Set the Term (years) input on the calculator above to 30 to see exactly how much you'd save monthly and how much extra interest you'd pay in total.
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
- 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.