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Understanding your mortgage repayments
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See how much your monthly mortgage payments could be with our mortgage calculator

Our calculator will help you quickly work out how much your monthly mortgage payments could be.

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Mortgage payment

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

Buying a home is exciting – but it can also be daunting. Especially when you’re trying to figure out what it may cost you each month. Whether you’re a first-time buyer, moving home, or just exploring your options, our tool can help you calculate what your monthly mortgage payments could look like.

Just a quick note: Please remember our mortgage repayment calculator is just a helpful guide and not financial advice.

See your monthly mortgage repayments

It’s easy to get started. Simply type in our calculator:

1. How much do you want to borrow?

This is the amount of money you’ll need from a mortgage lender to buy your home. It’s usually the cost of the property minus your deposit.

  • Example: If your new home costs £200,000 and you have a £20,000 deposit saved, you’ll be borrowing £180,000.
  • If you’re not sure yet, try different amounts to see how it affects your monthly repayments.

2. How long do you want to pay the money back?

This is your mortgage term – the number of years you’ll be making repayments.

  • Most people choose between 20 and 35 years.
  • A longer term usually means smaller monthly payments, but you might pay more interest overall.
  • A shorter term often means bigger payments, but you might clear the mortgage faster and pay less in the long run.

3. What’s the interest rate?

This is the percentage a lender charges you for borrowing the money. Interest rates vary depending on the type of mortgage and your personal circumstances.

  • You’ll usually find this on a mortgage product page or in your lender’s offer.
  • If you’re unsure, try a few different rates (e.g. 3%, 4%, 5%) to get a sense of the impact on repayments.
  • And remember even a small change in the interest rate can make a noticeable difference.

4. Lender fees

When applying for a mortgage, it can come with a set-up cost, often called a product fee or arrangement fee.

You can choose to add the arrangement fee to your mortgage, subject to your lender’s terms & conditions.

Please bear in mind, if you add this fee to your mortgage, you’ll pay interest on this, which means it’ll cost you more overall.

5. Choose your mortgage type: repayment or interest-only

  • Repayment mortgage
    You pay back part of the loan plus interest every month. Over time, the loan balance gets smaller. At the end of the term, you’ve fully paid off your home.

  • Interest-only mortgage
    You only pay the interest each month – not the loan itself. Your payments are lower, but you’ll still owe the full amount you borrowed at the end of the term. It’s important to have a plan in place for how you’ll repay that final lump sum.

Not sure which one to choose? Try both options in the repayment calculator to see how the monthly payments compare. It’s a useful way to get a clearer picture before speaking to a mortgage adviser.

Use our calculator to compare interest-only with repayment options. Seeing the difference can really help.

Once you have reviewed your potential monthly costs, why don’t you take the next step and speak to a mortgage adviser about your options with our trusted partner Mortgage Advice Beurer. Or you can explore our mortgage guides to learn more at your own pace.

Frequently asked questions

What’s the difference between a repayment mortgage and an interest-only mortgage?

Repayment mortgage

This is a common type of mortgage, especially for people buying their first home.

Here’s how it works

  • Every month, you pay back some of the loan (the ‘capital’) plus interest.
  • Over time, your loan balance goes down — bit by bit.
  • By the end of the mortgage term (say, 25 or 30 years), you’ve paid off the entire loan and the home is fully yours.

Example scenario

You borrow £180,000 over 25 years. Each month, you make payments that reduce the loan and cover the interest. By the end of the 25 years, the full £180,000 is paid off.

Pros

  • You’re always moving closer to owning your home outright
  • You don’t need to find a lump sum at the end of the term
  • Often easier to get approved by a lender

Things to consider

  • Monthly payments are usually higher than with interest-only
  • In the early years, a larger chunk of your payment goes toward interest, not the loan

Interest-only mortgage

With this option, your monthly payments only cover the interest on the loan. You don’t reduce the loan amount at all.

Here’s how it works

  • You pay just the interest each month — the original loan stays the same.
  • At the end of the mortgage term, you still owe the full amount you borrowed.
  • You’ll need a solid plan for how you’ll repay that lump sum — whether that’s through savings, investments, or selling another property.

Example

You borrow £180,000 interest-only for 25 years. You pay the interest monthly, but the £180,000 still needs to be paid back in full at the end of the 25 years.

Pros

  • Lower monthly payments - helpful for cash flow.
  • May suit people with short-term plans or a clear repayment strategy.
  • Could work for landlords or those with other assets.

Things to consider

  • You’re not reducing your loan — the debt is still there.
  • You’ll need a realistic repayment plan (and lenders will want to see it).
  • There’s a risk if your plan doesn’t work out — for example, if investments don’t grow as expected or property prices fall
  • You may end up paying more interest overall.
What affects your monthly mortgage payments?

A few key things can make a big difference to your payments:

  • Loan amount: The more you borrow, the more you’re likely to pay each month.
  • Interest rate: Even a small increase here can mean higher payments.
  • Length of the mortgage: A longer term spreads payments out, which can make them smaller – but you might pay more interest overall.
  • Type of mortgage: Interest-only mortgages might seem cheaper at first, but remember, you’ll need to repay the loan in full later.
Can I switch from interest-only to a repayment mortgage?

Yes, however this will depend on your individual circumstances. Use the calculator to see how your payments might change, then talk to your mortgage lender.

Is this calculator 100% accurate?

Our calculator is purely a guide based on the mortgage information you provide. For something tailored to your situation, we recommend chatting with a mortgage expert adviser.

Repayments on a £30,000 mortgage

Repayments can be influenced greatly by interest rates and deposit amounts so we’ve worked out the different costs of a £30,000 mortgage for you.

Find out more

Repayments on a £50,000 mortgage

£50,000 is a lot of money but the monthly repayments may not seem that bad, especially if you can save for a larger deposit. Find out more about the cost here.

Find out more

Repayments on a £60,000 mortgage

£60,000 is a lot of money so we’ve broken down the monthly repayments, so it is easier to understand. Find out more here and contact our mortgage advisers today.

Find out more