Precis

Mortgage Payment Calculator

Know the loan amount? This is the monthly payment it works out to.

  • Instant results
  • Private: runs in your browser
  • Free, no sign-up
Monthly payment
£0
—
Loan amount£0
Total interest paid£0
Total repaid£0

How is a mortgage payment calculated?

A repayment mortgage uses the standard amortising loan formula — your fixed monthly payment is set so that, across the whole term, it exactly clears both the amount borrowed and the interest charged along the way. Early payments are mostly interest with a small amount of capital repayment; that ratio flips gradually until the final payments are almost entirely capital. If you're still working out how much you could borrow in the first place, the Mortgage Affordability Calculator answers that earlier question — this one assumes you already know the loan amount.

Frequently asked questions

How is a mortgage payment calculated?

Using the standard amortising loan formula: your fixed monthly payment is calculated so that over the full term, it exactly pays off both the loan amount and the interest charged — the same formula used for any repayment mortgage.

What's the difference between this and a mortgage affordability calculator?

This calculator answers "what would my payment be on this loan amount?" — useful once you know roughly what you're borrowing. The Mortgage Affordability Calculator answers the earlier question, "how much could I borrow in the first place?" based on income and debts.

Does a longer mortgage term always cost more overall?

Yes — a longer term lowers the monthly payment but increases total interest paid, since interest accrues for longer. A 30-year term costs meaningfully more in total interest than a 25-year term on the same loan and rate.

Related searches

Mortgage AffordabilityHow much you could likely borrow, from your income and outgoings. Mortgage OverpaymentYears and interest saved by paying a little extra each month. Remortgage CalculatorCompare your current deal with a new rate, fees included.