Mortgage calculator
Monthly repayments, loan-to-value and a rough guide to how much you could borrow.
Monthly repayment
£1,250.62
Loan £225,000.00 at 90% LTV: rates are usually a little higher.
- Mortgage
- £225,000.00
- Loan to value
- 90%
- Total interest
- £150,186.92
- Total repaid
- £375,186.92
Year by year
| Year | Interest | Paid off | Left |
|---|---|---|---|
| 1 | £10,023.03 | £4,984.45 | £220,015.55 |
| 2 | £9,794.04 | £5,213.43 | £214,802.12 |
| 3 | £9,554.54 | £5,452.94 | £209,349.18 |
| 4 | £9,304.03 | £5,703.44 | £203,645.74 |
| 5 | £9,042.02 | £5,965.46 | £197,680.28 |
| 6 | £8,767.97 | £6,239.51 | £191,440.77 |
| 7 | £8,481.32 | £6,526.15 | £184,914.62 |
| 8 | £8,181.51 | £6,825.96 | £178,088.66 |
| 9 | £7,867.93 | £7,139.55 | £170,949.11 |
| 10 | £7,539.94 | £7,467.54 | £163,481.57 |
| 11 | £7,196.88 | £7,810.59 | £155,670.98 |
| 12 | £6,838.07 | £8,169.41 | £147,501.57 |
| 13 | £6,462.77 | £8,544.71 | £138,956.86 |
| 14 | £6,070.22 | £8,937.25 | £130,019.61 |
| 15 | £5,659.65 | £9,347.83 | £120,671.78 |
| 16 | £5,230.21 | £9,777.27 | £110,894.51 |
| 17 | £4,781.04 | £10,226.43 | £100,668.07 |
| 18 | £4,311.24 | £10,696.23 | £89,971.84 |
| 19 | £3,819.86 | £11,187.62 | £78,784.22 |
| 20 | £3,305.90 | £11,701.57 | £67,082.65 |
| 21 | £2,768.33 | £12,239.14 | £54,843.50 |
| 22 | £2,206.07 | £12,801.41 | £42,042.10 |
| 23 | £1,617.98 | £13,389.50 | £28,652.60 |
| 24 | £1,002.86 | £14,004.61 | £14,647.98 |
| 25 | £359.49 | £14,647.98 | £0.00 |
Show workings
- Mortgage needed£250,000.00 − £25,000.00 deposit = £225,000.00
- Loan to value£225,000.00 ÷ £250,000.00 = 90%
- Monthly repayment£225,000.00 over 300 months at 4.5% = £1,250.62
- Total interest£1,250.62 × 300 − £225,000.00 = £150,186.92
How it works
Repayment mortgages use the standard loan formula: the same payment each month clears the interest and the loan by the end of the term. Interest-only payments cover just the interest (loan × rate ÷ 12), and the full loan is still owed at the end.
Loan-to-value (LTV) is the loan as a percentage of the property price. Lenders price mortgages in LTV bands, so a bigger deposit often means a lower rate.
How much you could borrow is a rough guide: many UK lenders lend around 4 to 4.5 times household income, sometimes more for higher earners. The real figure depends on your outgoings, credit history and the lender's checks.
Worked example
A £250,000 home with a £25,000 deposit needs a £225,000 mortgage (90% LTV). Over 25 years at 4.5% that is £1,250.62 a month, and £150,186 of interest over the whole term.
Questions
What happens when a fixed rate ends?
You usually move to the lender's standard variable rate, which is often higher. Recalculate with the new rate to see the change, and remortgage or switch product before the deal ends.
Does this include fees, insurance or stamp duty?
No. Arrangement fees, valuation, legal costs and stamp duty/land tax are extra. Some fees can be added to the loan, which increases the interest you pay.
Is the borrowing figure what a lender will offer?
It's only a starting point. Lenders run an affordability assessment using your income, spending, debts and stress-testing at higher rates. A mortgage broker can give you a real figure.