Mortgage calculator
See your monthly mortgage payment, how much interest you will pay, and how much overpaying could save.
Monthly payment
£1,500.75
On a £270,000 mortgage at 90% loan-to-value.
- Amount borrowed£270,000
- Total interest£180,224
Total repaid: £450,224.
| Year | Balance left | Interest so far |
|---|---|---|
| 1 | £264,019 | £12,028 |
| 2 | £257,763 | £23,780 |
| 3 | £251,219 | £35,246 |
| 4 | £244,375 | £46,411 |
| 5 | £237,216 | £57,261 |
| 6 | £229,729 | £67,783 |
| 7 | £221,898 | £77,960 |
| 8 | £213,706 | £87,778 |
| 9 | £205,139 | £97,220 |
| 10 | £196,178 | £106,268 |
| 11 | £186,805 | £114,904 |
| 12 | £177,002 | £123,110 |
| 13 | £166,748 | £130,865 |
| 14 | £156,024 | £138,149 |
| 15 | £144,806 | £144,941 |
| 16 | £133,073 | £151,217 |
| 17 | £120,802 | £156,954 |
| 18 | £107,966 | £162,128 |
| 19 | £94,541 | £166,712 |
| 20 | £80,499 | £170,679 |
| 21 | £65,812 | £174,001 |
| 22 | £50,451 | £176,648 |
| 23 | £34,383 | £178,589 |
| 24 | £17,578 | £179,793 |
| 25 | £0 | £180,224 |
Repayment or interest-only
On a repayment mortgage each payment covers interest and some of the loan, so it is cleared by the end of the term. Interest-only payments are lower, but you still owe the full amount at the end.
Loan-to-value and your rate
Loan-to-value (LTV) is the mortgage as a percentage of the property price. A bigger deposit lowers your LTV and usually gets you a cheaper rate, with better deals at 60%, 75%, 80% and 90% LTV.
What is not included
This estimate excludes Stamp Duty, arrangement fees, valuation and legal costs, and assumes one rate for the whole term. In practice most people remortgage after a 2 to 5 year fixed deal.
Common questions
How much can I borrow?
Lenders typically offer up to about 4.5 times your annual income, depending on affordability checks and your outgoings.
Can I overpay my mortgage?
Most fixed deals allow overpayments of up to 10% of the balance a year without charge. Going over that can trigger early repayment charges, so check your terms.
How much deposit do I need?
Usually at least 5% of the price, but 10% to 25% gives access to cheaper rates.