Mortgage Repayment Calculator
- Find out how much you need to borrow
- Get an idea of the interest rate you’ll pay
- Hit submit to see your monthly repayment
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Get expert advice from one of our experienced brokers.
Knowing what your mortgage will cost you each month will help you manage your budget. This calculator will help you with that aim once you’ve made your preliminary enquiries.
First, you need to know how much you need to borrow from your lender. To work that out, subtract your deposit from the house sale price.
Then, you need to know what interest rate your lender is offering for the type of mortgage you want. Finally, you need to know the full term of your mortgage.
So, imagine the home you’ve seen is on sale for £250,000. And say that the mortgage you’ve seen:
- requires a 10% deposit (90% LTV);
- comes with a 4.59% initial rate period;
- is over 25 years.
The figures you need for the calculator
10% of £250,000 is £25,000, so that’s your deposit. The amount you need to borrow, therefore, is £225,000.
Into the calculator below, you’d enter the £225,000, the initial 4.59% interest rate and the full 25-year mortgage term.
Finally, hit ‘Submit‘. The calculator will tell you how much your monthly mortgage repayment would be based on those figures.
Use our other calculators on site to work out potential deposits, monthly repayments and Stamp Duty.
If you’re unable to make sense of the figures our calculator returns, give us a call on 0208 421 7998.
