Mortgage Repayment Calculator

Our mortgage repayment calculator gives you an idea of what your monthly mortgage repayments could cost based on the size of the mortgage you need, the length of time you intend to pay it off and the interest rate you expect to pay.

What will my mortgage repayments be?

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Tell us what you’re looking for and see current UK mortgages available, including rates, repayments and product information. Continue online to our partner L&C for fee-free mortgage help and advice.

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Lender Name	Initial Rate	Monthly Repayments	Product Fees	Annual Cost
Clydesdale	4.64% initial rate Fixed to 31/07/29 then 9.49% (variable) Max LTV 90%	£1,268.57 Monthly Repayments	£1,680.00 Product Fees 7.94% APRC	£15,558.84 Annual Cost
Representative Example more info	7.94% APRC Max LTV 90%		CHECK IF YOU QUALIFY
Fees and Charges Booking fee £0 Arrangement fee £1499 Other fees £0 Valuation fee £181 Cashback £ 0 Flexibility & Other info Overpayments allowed? 10% p/a Early Repayment Charge 5% reducing to 2% until 31/07/29 Exit fee £99 Basic legals Payable Fees and Charges   Flexibility & Other info Booking fee £0 Overpayments allowed? 10% p/a Arrangement fee £1499 Early Repayment Charge 5% reducing to 2% until 31/07/29 Other fees £ 0 Exit fee £99 Valuation fee £181 Basic legals Payable Cashback £ 0 Representative example A mortgage of £225,000 payable over 25 years, initially on a fixed rate for 5 years at 4.64% and then on a variable rate of 9.49% for the remaining 20 years would require 60 payments of £1,268 and 240 payments of £1,845. The total amount payable would be £520,560 made up of the loan amount plus interest (£293,880) and fees (£1,680). The overall cost for comparison is 7.9% APRC representative.
Cumberland	4.67% initial rate Fixed to 01/07/29 then 8.24% (variable) Max LTV 90%	£1,272.43 Monthly Repayments	£999.00 Product Fees 7.08% APRC	£15,468.96 Annual Cost
Representative Example more info	7.08% APRC Max LTV 90%		CHECK IF YOU QUALIFY
Fees and Charges Booking fee £0 Arrangement fee £999 Other fees £0 Valuation fee £0 Cashback £ 0 Flexibility & Other info Overpayments allowed? 10% p/a Early Repayment Charge 5% reducing to 1% until 01/07/29 Exit fee £125 Basic legals Payable Fees and Charges   Flexibility & Other info Booking fee £0 Overpayments allowed? 10% p/a Arrangement fee £999 Early Repayment Charge 5% reducing to 1% until 01/07/29 Other fees £ 0 Exit fee £125 Valuation fee £0 Basic legals Payable Cashback £ 0 Representative example A mortgage of £225,000 payable over 25 years, initially on a fixed rate for 5 years at 4.67% and then on a variable rate of 8.24% for the remaining 20 years would require 60 payments of £1,272 and 240 payments of £1,687. The total amount payable would be £482,199 made up of the loan amount plus interest (£256,200) and fees (£999). The overall cost for comparison is 7.1% APRC representative.
Nationwide	4.70% initial rate Fixed for 5 years then 7.99% (variable) Max LTV 90%	£1,276.30 Monthly Repayments	£999.00 Product Fees 6.92% APRC	£15,415.40 Annual Cost
Representative Example more info	6.92% APRC Max LTV 90%		CHECK IF YOU QUALIFY
Fees and Charges Booking fee £0 Arrangement fee £999 Other fees £0 Valuation fee £0 Cashback £ 500 Flexibility & Other info Overpayments allowed? 10% p/a Early Repayment Charge 5% reducing to 2% for 5 years Exit fee £65 Basic legals Payable Fees and Charges   Flexibility & Other info Booking fee £0 Overpayments allowed? 10% p/a Arrangement fee £999 Early Repayment Charge 5% reducing to 2% for 5 years Other fees £ 0 Exit fee £65 Valuation fee £0 Basic legals Payable Cashback £ 500 Representative example A mortgage of £225,000 payable over 25 years, initially on a fixed rate for 5 years at 4.70% and then on a variable rate of 7.99% for the remaining 20 years would require 60 payments of £1,276 and 240 payments of £1,657. The total amount payable would be £474,739 made up of the loan amount plus interest (£249,240) and fees (£499). The overall cost for comparison is 6.9% APRC representative.

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Think carefully before securing other debts against your home.  You home may be repossessed if you do not keep up repayments on a loan or any other debt secured on it.

Important Information:
This mortgage product comparison service is provided by L&C Mortgages. Information is updated up to twice daily from L&C’s whole of market mortgage database, however some products may be excluded such as those only available directly with a lender or specialist products. Products are initially shown in order of initial rate but can be reordered. By selecting to Continue Online you will introduced to L&C Mortgages and their qualified advisors a Nerdwallet brings you this mortgage rate comparison as a guide. Information does not constitute advice or recommendation. Rates should be considered with all fee’s and charges. Mortgage suitability is specific to your own personal and financial circumstances.

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NerdWallet has partnered with L&C, the UK's leading fee free mortgage broker, to offer you expert advice

Call L&C on:
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Need Advice?

NerdWallet has partnered with L&C, the UK's leading fee free mortgage broker, to offer you expert advice

Call L&C on:
0808 292 0841

How our mortgage repayment calculator works

To use our mortgage repayment calculator you’ll need to have a rough idea of the:

• price or value of the property the mortgage relates to
• deposit or amount of equity you can put towards the mortgage
• type of mortgage you want – capital repayment or interest-only?
• mortgage rate you’re likely to pay
• length of time you intend to pay off your mortgage in its entirety – so your mortgage term
• fees that you may need to pay for taking out the mortgage

Type the relevant figures into the repayment calculator and you’ll see how much your monthly repayments might be, based on the information you’ve provided. 

The results are intended as a guide only. You should speak to your mortgage lender or broker for more precise details on what your mortgage repayments will be.

What else does the mortgage repayment calculator show?

As well as giving you an idea of monthly mortgage repayment costs, our mortgage repayment calculator also tells you how much the mortgage would cost over your entire mortgage term. How much interest you would pay in pounds and pence is calculated separately too. The graph shows how the amount you owe on your mortgage overall should decrease over time.  

How are mortgage repayments calculated?

Mortgage repayments are affected by a range of factors including your:

• mortgage amount
• mortgage deposit
• interest rate
• repayment term
• credit history

Our mortgage repayment calculator can help you get a rough idea of how much you’re likely to repay each month.

When do you start paying mortgage repayments?

Your first mortgage repayment will normally be due at an agreed date in the month following the completion of your mortgage. Your mortgage lender will send you a letter confirming exactly when your mortgage payments will be taken and how much they will be. 

Typically, your first mortgage payment is higher than your usual standard monthly repayment amount. This is because additional interest is added for any days between mortgage completion and the end of that month.

What are the different mortgage repayment types?

There are two main mortgage repayment types:

• Capital repayment: This is where your mortgage repayments go towards paying off the interest you owe and some of the original mortgage amount you borrowed each month. If you make all of your repayments on time, everything you owe should be paid off by the end of your mortgage term. 
• Interest-only: This is where you only repay the interest on your mortgage each month, and then pay off your original loan amount by the end of your mortgage term. Interest-only mortgages are less common, usually have stricter eligibility requirements and tend to be more expensive than capital repayment mortgages.

» MORE: Interest-only vs repayment mortgages

Where can I find the best mortgage rates?

The calculations are simple: the lower your mortgage rate, the lower your mortgage repayments will be. However, the most important aspect of getting a mortgage is to find a deal that suits you and your circumstances. Speaking to a mortgage adviser is always sensible if you’re at all uncertain and shopping around is a must.

» MORE: Check the latest mortgage rates

Try our other mortgage calculators

• How much can I borrow for a mortgage?
• Mortgage interest rate calculator
• Mortgage overpayment calculator
• Stamp duty calculator
• Buy to let mortgage calculator

About the Author

Tim Leonard

Tim is a writer and spokesperson at NerdWallet and holds the Chartered Insurance Institute (CII) Level 3 Certificate in Mortgage Advice. He has over 20 years’ experience writing about almost…

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