Mortgage Calculator
Estimate your monthly mortgage payments based on property price, deposit, interest rate, and term length.
Mortgage Calculator
£
%
%
years
Loan amount£225,000
Monthly payment£1,251
Total interest£150,300
Total repayment£375,300
This is an estimate based on a standard repayment mortgage. Actual payments may vary – seek professional mortgage advice.
How are mortgage payments calculated?
Monthly payments on a standard repayment mortgage are calculated using the formula: M = P[r(1+r)^n] / [(1+r)^n – 1], where P is the loan amount, r is the monthly interest rate, and n is the total number of monthly payments.
What affects your mortgage payment?
- Deposit – A larger deposit reduces your loan amount and often secures better interest rates.
- Interest rate – Even small differences significantly affect the total cost over the mortgage term.
- Term length – Longer terms mean lower monthly payments but more interest paid overall.
This calculator provides estimates only. Actual mortgage offers depend on your circumstances and the lender's criteria. Seek independent mortgage advice.