Calculate your monthly mortgage repayments, total interest paid and the overall cost of your mortgage. Adjust the property price, deposit, interest rate and term to compare different deals. Updated for 2024/25.
Enter the property price, your deposit amount, the annual interest rate and the mortgage term in years. The calculator will instantly show your monthly repayment, the total amount you will repay over the full term and how much of that is interest.
Your monthly mortgage payment is calculated using the formula: M = P[r(1+r)^n]/[(1+r)^n-1] where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12) and n is the total number of monthly payments.
Average UK mortgage rates in 2024 range from around 4.5% to 6.5% depending on the loan-to-value ratio and fixed term length. A larger deposit typically secures a lower interest rate. Use this calculator to compare different rate scenarios.