UK Mortgage Calculator
Estimate your monthly payments and see how much your mortgage will cost.
Monthly Payment
Loan Amount
£280,000
LTV Ratio
80%
Total Interest
£186,800
Total Repayment
£466,800
What is a Mortgage?
A mortgage is a loan taken out to buy property or land. Most run for about 25 years, but the term can be shorter or longer. The loan is 'secured' against the value of your home until it's paid off. If you can't keep up your repayments, the lender can repossess (take back) your home and sell it to get their money back.
How Much Deposit Do You Need?
The more deposit you have, the lower your interest rate will usually be. Higher LTV (Loan-to-Value) mortgages are riskier for lenders.
Repayment vs Interest-Only
Repayment Mortgage
You pay off the interest and a bit of the loan each month. At the end of the term, you own the property outright.
Interest-Only
You only pay the interest on the loan. The amount you borrowed stays the same and must be paid back in full at the end of the term.