Mortgage Calculator
Work out your monthly mortgage payment, total interest and loan-to-value for a repayment or interest-only mortgage.
New: please check your results.
- Monthly payment
- £1,500.75
- Amount borrowed
- £270,000.00
- Loan to value
- 90%
- Total interest
- £180,224.31
- Total repaid
- £450,224.31
Year-by-year breakdown
| Year | Loan paid off | Interest paid | Still owed |
|---|---|---|---|
| 1 | £5,981.34 | £12,027.64 | £264,018.66 |
| 2 | £12,237.46 | £23,780.49 | £257,762.54 |
| 3 | £18,780.98 | £35,245.94 | £251,219.02 |
| 4 | £25,625.11 | £46,410.78 | £244,374.89 |
| 5 | £32,783.66 | £57,261.20 | £237,216.34 |
| 6 | £40,271.07 | £67,782.76 | £229,728.93 |
| 7 | £48,102.46 | £77,960.35 | £221,897.54 |
| 8 | £56,293.61 | £87,778.17 | £213,706.39 |
| 9 | £64,861.07 | £97,219.68 | £205,138.93 |
| 10 | £73,822.11 | £106,267.61 | £196,177.89 |
| 11 | £83,194.82 | £114,903.87 | £186,805.18 |
| 12 | £92,998.11 | £123,109.55 | £177,001.89 |
| 13 | £103,251.77 | £130,864.87 | £166,748.23 |
| 14 | £113,976.47 | £138,149.14 | £156,023.53 |
| 15 | £125,193.87 | £144,940.71 | £144,806.13 |
| 16 | £136,926.59 | £151,216.97 | £133,073.41 |
| 17 | £149,198.31 | £156,954.22 | £120,801.69 |
| 18 | £162,033.79 | £162,127.71 | £107,966.21 |
| 19 | £175,458.93 | £166,711.54 | £94,541.07 |
| 20 | £189,500.82 | £170,678.62 | £80,499.18 |
| 21 | £204,187.80 | £174,000.62 | £65,812.20 |
| 22 | £219,549.48 | £176,647.91 | £50,450.52 |
| 23 | £235,616.89 | £178,589.48 | £34,383.11 |
| 24 | £252,422.42 | £179,792.91 | £17,577.58 |
| 25 | £270,000.00 | £180,224.31 | £0.00 |
What it does
Find your monthly mortgage payment from the property price, your deposit, the interest rate and the term. It also shows how much you'll pay in interest over the whole mortgage and your loan-to-value, which lenders use to set rates.
How to use it
- Property price
The price you're paying for the home.
- Deposit
The cash you're putting in yourself. The rest is borrowed.
- Interest rate
The yearly rate on the mortgage offer. For a fixed deal, use the fixed rate to see payments during that period.
- Mortgage term
How long you'll take to pay it back. Longer terms lower the monthly payment but add interest.
- Mortgage type
Repayment pays off the loan by the end of the term. Interest only covers just the interest, so the full loan is still owed at the end.
Common uses
- Comparing mortgage offers with different rates or terms.
- Seeing how a bigger deposit changes your payments.
- Working out the stamp duty on the purchase. Try the Stamp Duty Calculator (England & NI)
- Checking repayments on other borrowing. Try the Loan Repayment Calculator
The formula
M = L × r ÷ [1 − (1 + r)⁻ⁿ]Interest only: M = L × rWhere:
- M
- monthly payment
- L
- amount borrowed (price − deposit)
- r
- yearly rate ÷ 12
- n
- number of monthly payments
Assumes the rate stays the same for the whole term and doesn't include fees or insurance.
Worked example
You borrow £270,000.00: the £300,000 price less your £30,000 deposit. That's a loan to value of 90%.
- Monthly rate: 4.5% ÷ 12 = 0.38%
- Number of payments: 25 years × 12 = 300
- Monthly payment: £1,500.75
Over the full term you'd repay £450,224.31, of which £180,224.31 is interest.
Questions people ask
Does this include fees and insurance?
No. Arrangement fees, valuation and legal costs, and insurance are all extra. Some lenders let you add the arrangement fee to the loan, which increases the amount borrowed.
What is loan to value (LTV)?
The loan as a percentage of the property's value. A £270,000 loan on a £300,000 home is 90% LTV. Lenders usually offer lower rates as LTV falls, often in bands such as 60%, 75%, 85% and 90%.
What's the difference between repayment and interest only?
With a repayment mortgage, each payment covers interest and some of the loan, so it's paid off by the end. Interest only costs less each month, but you still owe the full loan at the end and need a plan to repay it.
Last checked 24 October 2026