Mortgage calculator
See what a mortgage would cost each month from the price, your deposit, the interest rate and the term. Then let a verified whole-of-market broker find the rate you'd actually be offered.
Mortgage repayment calculator
Estimated monthly repayment
£1,401 a month
Illustration only, not financial advice or a lending offer. Your rate and eligibility depend on your circumstances - a whole-of-market broker will confirm what you can actually borrow.
How this calculator works
It uses the standard repayment mortgage formula: your borrowing (price minus deposit) is repaid with interest in equal monthly instalments across the term. The interest-only figure shows what you'd pay if the loan itself were never reduced, which is how some buy-to-let mortgages work.
The rate makes an enormous difference. On £250,000 over 25 years, each 1% change moves the monthly payment by roughly £140. That's why the rate a broker can find you matters more than almost any fee they might charge.
A longer term lowers the monthly cost but raises the total repaid - stretch from 25 to 35 years and you'll pay noticeably more interest over the life of the loan. The calculator shows the total so you can see that trade clearly.
What affects the rate you'll actually get
- Loan-to-value: the bigger your deposit relative to the price, the better the rate bands you unlock - 90%, 85%, 75% and 60% are common thresholds
- Your income, outgoings and credit history, which set what lenders will offer at all
- Fixed versus variable, and the length of the fixed period
- Product fees: a low headline rate with a large fee can cost more than a slightly higher rate without one
- How you apply: whole-of-market brokers compare across lenders, including deals not available direct
Frequently asked questions
Is this a mortgage offer or advice?
No. It's arithmetic: what a given loan at a given rate costs per month. What you can borrow and at what rate depends on your circumstances, which is a regulated conversation to have with a qualified adviser - Homeply can connect you with verified whole-of-market brokers for free.
How much deposit do I need?
Most lenders start at 5% of the price, but rates improve meaningfully at 10%, 15% and 25%. Try moving the deposit slider and watch the monthly payment - it's the clearest way to see what saving a little longer buys you.
Should I use a mortgage broker?
A whole-of-market broker compares deals across the lending market, including products not available direct from your bank, and handles the application. Some charge nothing and are paid by the lender; every broker must tell you clearly how they're paid.
What rate should I type in?
Check any current agreement in principle, or use a typical current fixed rate as a starting point. The point of the calculator is comparison - seeing how rate, deposit and term move the number - rather than predicting your exact offer.
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