Mortgage Calculator UK
Enter the property price, your deposit, the interest rate and the term: you'll see the monthly repayment, the total interest and the cash you need to complete. Open «More options» to test overpayments.
More options
General values (United Kingdom). They don't account for regional rules or other costs that may apply. Check them with your lender or advisor.
Rate discounts for bank products
Enter the rate above with every discount applied. Here, each product the bank asks for: how much it lowers the rate and what it costs a year. The discount is assumed to last the whole term.
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Count as cost what you pay extra for having it with the bank: if the same insurance costs £150 elsewhere and the bank's costs £250, that's £100. If the premium rises over the years, as life insurance does, enter the average.
Enter the price, deposit, interest rate and term.
The payment is capital plus interest: it doesn't include insurance, fees or council tax.
Yearly repayment schedule
Enter the price, deposit, interest rate and term.
Results are estimates. Solvemis accepts no responsibility for the results obtained or for how they are used. Always double-check the result and talk to a qualified professional before making decisions.
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How it works
How to use it
- Enter the property price and your deposit.
- Add the annual interest rate and the term in years.
- Open «More options» to change the repayment type or buying costs, or to add an overpayment.
- Check the monthly repayment, the total interest, the cash needed to complete and the yearly schedule.
How it is calculated
The monthly rate is the annual rate divided by 12, and the loan is simulated month by month, like a lender's repayment schedule. If the rate changes after some years, the payment is recalculated in the year it changes, on the outstanding balance and the months left. Overpayments are applied at the end of the chosen year. Buying costs, the income multiple and the loan-to-value are general values for the UK that you can change. With rate discounts, the rate you enter is the one you pay with every product; without each one, the rate goes up by its discount (also after a rate change) and the extra interest is compared with its cost over the years the mortgage lasts.
Repayment = L · i / (1 − (1 + i)^−n) · L = loan, i = annual rate ÷ 12, n = months
Sources
- The FPC's mortgage market recommendations — Financial Conduct Authority
- Stamp Duty Land Tax: residential property rates — GOV.UK
About this calculator
Fixed repayment or fixed capital
On a standard repayment mortgage the monthly amount stays the same, but in the early years most of it is interest, so the balance falls slowly. With fixed capital repayment, you repay the same part of the loan each month: the first payment is higher, then it falls, and you pay less interest overall. The chart shows each year’s interest in blue.
Overpayments: shorter term or lower repayment
When you overpay, you choose what goes down. Shortening the term keeps the repayment and clears the mortgage sooner, which usually saves the most interest. Lowering the repayment keeps the term and reduces what you pay each month. Try a single overpayment or one every year and see the exact saving.
What the UK values don’t cover
Lenders usually cap borrowing at around 4.5 times gross income: the Bank of England limits loans at 4.5 times income or more to 15% of new mortgages. The 90% loan-to-value is a common reference; some lenders go to 95%. UK deals are usually fixed for two to five years and then move to the lender’s variable rate: to see the payment after that, choose «Changes after some years» in «More options». Buying costs depend on where you buy: in England and Northern Ireland Stamp Duty Land Tax is 0% up to £125,000, 2% up to £250,000 and 5% up to £925,000, and first-time buyers pay none up to £300,000 on homes of up to £500,000; Scotland and Wales have their own taxes. Add solicitor, survey and lender fees. The 3% is a general value: check it with your lender or adviser.
Frequently asked questions
What does the monthly repayment include?
Only capital and interest on a repayment mortgage. Buildings insurance, any lender fees and council tax come on top.
Should an overpayment shorten the term or lower the repayment?
Shortening the term usually saves more interest, because the mortgage ends sooner. Lowering the repayment frees up money each month. The calculator shows both with your numbers. Many lenders let you overpay up to 10% of the balance a year without an early repayment charge; check your deal.
What is fixed capital repayment?
Instead of an equal repayment every month, you repay the same amount of capital each month. Repayments start higher and fall over time, and total interest is lower. Most UK mortgages use the standard repayment method with a fixed monthly amount.
Is it worth taking the bank's products to get a lower rate?
It depends on what they cost. Under «Rate discounts for bank products», in «More options», enter the discounted rate (with every product) as the interest rate and, for each product, such as insurance, a card or having your salary paid into the account, how much it lowers the rate and what it costs a year. You'll see how much interest each one saves and whether it's worth it; if you don't know the cost, how much it could cost a year and still pay off. Count as cost only what you pay extra for having it with the bank: if the same insurance is cheaper elsewhere, the difference.
Updated 20 October 2026
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