Cashback Remortgages · Mortgage calculations
Mortgage Repayment Calculator
Estimate payments on a repayment mortgage using a balance, annual interest rate and remaining term. The result is a mathematical illustration, not a current offer or a decision about how much you can afford.
Your repayment illustration
The starting 5% is a calculation example, not a current lender offer. Enter the rate you want to compare.
- Standard monthly repayment
- £1,461.48
- Total interest over the term
- £188,442.53
- Total repaid, excluding fees
- £438,442.53
Repayment mortgage with monthly payments in arrears and a constant rate for the entire term. Figures exclude fees, daily interest differences, rate changes and early repayment charges. Overpayments are assumed to shorten the term while retaining the original standard payment; your lender may treat them differently. This is not mortgage advice, an affordability decision or an offer.
What the monthly payment includes
A repayment mortgage payment covers interest and part of the outstanding capital. As the balance reduces, the interest and capital portions change. This calculation assumes equal monthly payments at the end of each month and a constant annual rate for the entire term.
Actual lenders can calculate interest daily, use different payment dates or collect a larger first payment. A lender illustration should be used for the specific product rather than expecting this estimate to match every contractual payment to the penny.
A longer term can mean more total interest
Increasing the repayment term often lowers the monthly payment, but it can increase total interest because the money is borrowed for longer. Consider affordability now and how the term fits your future income and retirement plans.
An initial fixed rate usually lasts for less than the entire mortgage term. This tool does not predict the rate after the initial deal; change the rate input to explore a different constant-rate scenario.
Repayment is different from affordability
The calculator does not assess income, commitments, dependants, credit history or property eligibility. A payment you could mathematically make is not confirmation that a lender will offer the loan.
Fees, insurance and other ownership costs are excluded. If a product fee is financed, include it in the balance when comparing its interest effect and avoid counting it again as an upfront cash fee.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.