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Published 06 December 2023
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Mortgage Repayment Calculator

A mortgage repayment calculator estimates how much your monthly mortgage repayments may be. Use our calculator to work out how much your mortgage may cost each month.

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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?

Mortgage Details

Estimated Mortgage Repayment

The following is a guide to repayments over the full term of the mortgage and assumes your interest rate remains the same for the entire duration.

£1,315.33

Monthly Mortgage Repayment
Loan To Value
90%
Mortgage Term
25 Years
Interest Paid
£169,598.28
Total Paid
£394,598.28
Change Details

Your mortgage debt over time

Balance remaining in undefined

This calculator is designed to give you a guide on mortgage costs. It also makes certain assumptions to be able to provide calculations over a longer period that will not be reflected in your own mortgage. The actual mortgage you obtain will depend on a number of factors that are specific to your own personal and financial circumstances.

Partner Spotlight

Compare Mortgages

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.

Loan Type

Showing 3 of 50 results

Lender Name Initial Rate Monthly Repayments Product Fees Annual Cost

HSBC
4.58% initial rate
Fixed to 30/04/29
then 6.99% (variable)

Max LTV 90%
£1,260.86
Monthly Repayments
£999.00
Product Fees
6.17% APRC
£15,230.12
Annual Cost
6.17% APRC Max LTV 90%
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 1% until 30/04/29
Exit fee £0
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 30/04/29
Other fees £ 0 Exit fee £0
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 4.58% and then on a variable rate of 6.99% for the remaining 20 years would require 60 payments of £1,260 and 240 payments of £1,533. The total amount payable would be £444,019 made up of the loan amount plus interest (£218,520) and fees (£499). The overall cost for comparison is 6.2% APRC representative.

Allied Irish Bank
4.61% initial rate
Fixed to 28/02/29
then 7.75% (variable)

Max LTV 90%
£1,264.71
Monthly Repayments
£200.00
Product Fees
6.65% APRC
£15,216.52
Annual Cost
6.65% APRC Max LTV 90%
Fees and Charges
Booking fee £0
Arrangement fee £0
Other fees £0
Valuation fee £200
Cashback £ 0
Flexibility & Other info
Overpayments allowed?
Early Repayment Charge 6 months interest until 28/02/29
Exit fee £55
Basic legals Payable
Fees and Charges   Flexibility & Other info
Booking fee £0 Overpayments allowed?
Arrangement fee £0 Early Repayment Charge 6 months interest until 28/02/29
Other fees £ 0 Exit fee £55
Valuation fee £200 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 4.61% and then on a variable rate of 7.75% for the remaining 20 years would require 60 payments of £1,264 and 240 payments of £1,625. The total amount payable would be £466,040 made up of the loan amount plus interest (£240,840) and fees (£200). The overall cost for comparison is 6.7% APRC representative.

Halifax
4.64% initial rate
Fixed to 31/05/29
then 8.74% (variable)

Max LTV 90%
£1,268.57
Monthly Repayments
£1,099.00
Product Fees
7.35% APRC
£15,442.64
Annual Cost
7.35% APRC Max LTV 90%
Fees and Charges
Booking fee £0
Arrangement fee £999
Other fees £0
Valuation fee £100
Cashback £ 0
Flexibility & Other info
Overpayments allowed? 10% p/a
Early Repayment Charge 5% reducing to 1% until 30/06/29
Exit fee £0
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 30/06/29
Other fees £ 0 Exit fee £0
Valuation fee £100 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 8.74% for the remaining 20 years would require 60 payments of £1,268 and 240 payments of £1,749. The total amount payable would be £496,939 made up of the loan amount plus interest (£270,840) and fees (£1,099). The overall cost for comparison is 7.4% APRC representative.

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.

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:

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:

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:

» 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

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When Can You Remortgage?

When Can You Remortgage?

It’s possible to remortgage whenever and how often you like, but there may be charges if you remortgage before your current deal ends.

How Long Does a Remortgage Take?

How Long Does a Remortgage Take?

The remortgaging process may take one to two months if you’re switching to a new lender, and maybe less than a week if you stay with your current lender.

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