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What is the monthly repayment on a £75,000 mortgage?

The monthly repayments on a £75,000 mortgage may be higher or lower based on your deposit, mortgage terms and interest rates, as seen below. All repayments will be subject to lots of different things and the table below should only be used as a guide. You can calculate your rough monthly payments, based on different interest and payment terms, using our table below.

£75,000 mortgage repayments

 Interest rate 1% 2% 3% 4% 5%
10 years £657.03 £690.10 £724.21 £759.34 £795.49
15 years £448.87 £482.63 £517.94 £554.77 £593.10
 20 years £344.92 £379.41 £415.95 £454.49 £494.97
 25 years £282.65 £317.89 £355.66 £395.88 £438.44
 30 years £241.23 £277.21 £316.20 £358.06 £402.62
 35 years £211.71 £248.45 £288.64 £332.08 £378.52

Your home may be repossessed if you do not keep up repayments on your mortgage.

Figures are based on a repayment mortgage, not an interest only mortgage and calculated with Money Advice Service's mortgage calculator

How much deposit is needed for a £75,000 mortgage?

Mortgage lenders generally offer to lend to clients who can provide a minimum deposit of 10%. However, some lenders will accept a deposit as low as 5%, equating to £3,750, while others may prefer a 15% deposit, totalling £11,250 - it all depends on their individual lending requirements. The higher your deposit, the lower your Loan-to-Value ratio which could release more mortgage deal options. 

Many other factors will affect your eligibility for a mortgage, including your credit history or employment history, so be sure to take these into account when you speak to your mortgage adviser.

Can I afford a £75,000 mortgage?

While a £75,000 mortgage is fairly small in the grand scheme of mortgage lending and is a relatively low amount to borrow you will still be examined in terms of affordability by the mortgage lender. They will look at a few different factors, including the initial deposit. Your lender will look at your monthly salary. You must be able to prove that you can pay off the monthly repayments each month, so you’ll need at least three months of payslips, and bank statements. 

The availability of a mortgage may also depend on your credit history. If you have other outstanding credit, such as credit cards, store cards, loans, car leases, or a history of late payments or debts you may be offered less options for your mortgage deal. If you want to get the right deal for you, it's best to eliminate any affordable debts that you could clear before applying for your mortgage. 

If you’d like a better idea of the monthly payments for your circumstance and a £60,000 mortgage, try our mortgage and deposit calculators.

Frequently asked questions

Does being self-employed affect getting a £75,000 mortgage?

Some lenders may be reluctant to offer a mortgage to those who are self-employed and you may have to provide extra evidence to them. This is because salary is one of the biggest determiners for your eligibility. If you are self-employed and cannot demonstrate that you earn enough annually to cover your repayments, you may struggle. Nottingham Mortgage Services advisers can help you know what documents that you need before applying for your mortgage as a self-employed person. 

The good news is, it’s not impossible. You’ll need to show your lender between one to three years of accounts to prove you have sufficient profit and income from your business and demonstrate your ability to come up with the deposit. If you've sent your Self-Assessment tax return to HMRC for the past 4 years Tax Overviews or a SA302 should be sufficient. You can also show them work records, for example details of upcoming projects or retained accounts.

Luckily, a £75,000 mortgage is a relatively small amount to borrow, so you may not have to show your business is making huge profits, assuming your business trades successfully throughout the year and year on year profits are stable, or increasing.

What income do I need for a £75,000 mortgage?

Salaries are one of the biggest deciders for mortgage lenders. Typically, lenders are willing to offer three or more times your household’s yearly income, sometimes up to four, but this could be reduced if you have other outstanding debts and dependents. However, it is always advisable to put down a higher deposit, particularly on a low borrowing amount such as £75,000. This will increase your Loan-to-Value ratio and may give you more choice and more flexible mortgage deals. Nottingham Mortgage Services advisers can guide you on the right product for your monthly income.

Can you get £75,000 Buy to Let mortgages?

Many Buy to Let mortgages are interest-only, and come with their own specific terms. Namely, you may have to already own another property, and you should be prepared to pay a 25% deposit. Therefore, while you can apply for this type of mortgage at £75,000, there may be more costs in the short-term, plus longer-term higher interest rates.

Can you get £75,000 interest-only mortgages?

An interest-only mortgage requires you to pay off the value of your loan once the term of interest payments has come to an end. Over the term of the mortgage, you only repay the interest of the loan. No capital is repaid unless you make over payments. You will be required to pay off the balance on expiry of the term. 

Many buy-to-let mortgages are interest-only, so you may be able to use any saved income from rent payments to cover this final sum. 

Apply for a £75,000 mortgage

Specialist mortgage brokers will search through our own mortgages, plus rates of over 60 other approved lenders, to secure the right deal for your £75,000 mortgage. To find out more, get in touch with us or visit your local branch.

More mortgage repayment guides

Looking for a different mortgage? Find the answers to your questions with our range of mortgage repayment guides.

£30,000 Mortgage Repayments

£50,000 Mortgage Repayments

£60,000 Mortgage Repayments

£250,000 Mortgage Repayments

Some buy-to-let mortgages are not regulated by the Financial Conduct Authority


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