Mortgage Calculator

Use this free quick mortgage calculator to calculate your monthly payments for repayment mortgages or interest only mortgages.

So you can see affordability we have included a range of interest rates at 12% 10% 8% and 6% to see how your repayment could change if interest rates increase.

Calculate Your Mortgage Now !

Simply enter your data in the "input" section for the total amount of mortgage you are seeking, the length of term of the loan and the estimated interest rate you are paying. Then hit "calculate mortgage".

You will see the value for the interest rate you have entered then 4 additional scenarios for different rates. Try it now. Press "start again" to clear all values or alternatively simply update the numbers you have entered and it will automatically recalculate the data for you!

Input: Your Mortgage Requirements:
Mortgage required (no commas) £
Repayment period in years (no commas)
Interest rate (enter 5% as 5)
Output: Your Mortgage Calculated:
Interest Rate	Repayment	Interest Only
% (your input)
12%
10%
8%
6%

The information is only a guide and your mortgage lender or broker will be able to provide you with precise figures in their illustation pack. Remember that these numbers are only for paying off your mortgage over the term you entered and does not include any other costs that your lender may charge such as early redemption penalties or acceptance costs.

Repayment Mortgages

A repayment mortgage is one where the monthly payment to your lender not only covers the interest incurred in the preceding month but also an element to repay the actual loan. As the loan decreases the amount taken from each payment for interest also increases so towards the end of the loan the interest is a smaller proportion until it is paid off.

Interest Only Mortgages

An interest only mortgage is one where no capital repayment is made and you are only paying interest on the loan. This means from your loan repayments the capital element of the loan never reduces. Normally people take out other means to pay off the loan such as an ISA or with profits policy or some other form of investment.

Take Financial Advice

This mortgage calculator is for information purposes only and does not constitute financial advice as defined by the Financial Services Authority (FSA).

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