How to use the Mortgage Calculator UK
The UK mortgage calculator shows repayment and interest-only monthly payments for a home in pounds.
Open the Mortgage Calculator UK →
What you need to enter
- Property price (£)
- Deposit (£)
- Interest rate (%)
- Term (years)
The formula
Repayment = P × r ÷ (1 − (1 + r)^−n). Interest-only = P × r, where P is price minus deposit and r the monthly rate.
Worked example
Using the default values in the calculator:
- Property price (£): 300000
- Deposit (£): 45000
- Interest rate (%): 4.5
- Term (years): 25
| Repayment mortgage / month | £1,417.37 |
| Interest-only / month | £956.25 |
| Mortgage amount | £255,000 |
| Loan to value | 85% |
| Total interest (repayment) | £170,211.85 |
Tips for better results
- Compare with stamp duty and legal fees.
- Check whether the rate is fixed or tracker.
Common mistakes to avoid
- Forgetting stamp duty.
- Choosing interest-only without a repayment plan.
Please note: Calculators and guides give general estimates, not financial, tax or investment advice. Real offers depend on your lender, location and personal situation. See our Disclaimer.