Mortgage calculator

Simply enter the property price and your deposit amount, the term over which you
intend to pay it off and the interest rate for the mortgage.

Purchase Price (£)
Deposit Amount (£)
Interest Rates (%)
Loan Length (years)
Your approximate mortgage cost is: £0.00/month

This information is a guide only and should not be relied on as a recommendation or advice that any particular mortgage is suitable for you. All mortgages are subject to the applicant(s) meeting the eligibility criteria of lenders. Make an appointment to receive mortgage advice suitable for your needs and circumstances.

Mortgage calculator FAQ’s

How do you calculate mortgage repayments?

To calculate mortgage repayments, input the property price, the deposit amount, how long you would like to pay it off and the interest rate for the mortgage into the above calculator. This will then determine how much your repayments will be per month.

To calculate how much mortgage interest you owe, the formula is (outstanding balance owed x current interest rate) / 12.

As an example, if you’re outstanding balance owed is £230,000 and the current interest rate for your mortgage deal is 3%, the formula is:

230,000 x 0.03 = 6,900

6,900 / 12 = 575

Therefore, you will pay £575 interest on your mortgage on your next monthly repayment. 

The 2 main ways to repay back your mortgage are:

  • Monthly mortgage repayments – this is the most popular way which involves paying off the interest owed and part of the balance borrowed.

Interest only mortgage – this is when you just pay off the interest owed on a monthly basis. You will then pay off the remainder at the end of your mortgage term.