Mortgage Calculator for United Kingdom
Estimate monthly mortgage payments including principal, interest, taxes, and insurance.
Region: United Kingdom (GBP)
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Quick Tip
For a UK mortgage, set the property tax rate to 0 and the annual insurance to 0 (or your buildings insurance) so the result shows the pure monthly repayment.
About This Tool
Why use Mortgage Calculator?
Most UK mortgages are repayment mortgages taken over 25 years or longer, with an initial fixed or tracker deal that typically lasts two or five years. When the deal ends, the loan moves to the lender's standard variable rate (SVR) unless you remortgage, so it is worth testing a higher rate as well as your deal rate.
Unlike in the US, council tax and buildings insurance are not paid through your mortgage, and there is no private mortgage insurance. Budget separately for Stamp Duty Land Tax in England and Northern Ireland, Land and Buildings Transaction Tax in Scotland or Land Transaction Tax in Wales, as well as solicitor and survey fees.
Key Benefits
Monthly repayment in pounds
Calculates a standard capital-and-interest repayment on your loan amount, term and rate.
Deal versus SVR
Run the numbers at your fixed rate and again at a higher reversion rate to see the risk of not remortgaging.
Deposit and loan-to-value
Change the deposit percentage to see the loan size; lower loan-to-value bands usually unlock better rates.
How to use Mortgage Calculator
- 1
For a UK mortgage, set the property tax rate to 0 and the annual insurance to 0 (or your buildings insurance) so the result shows the pure monthly repayment.
- 2
Enter the home price and your deposit (down payment) as a percentage.
- 3
Add the interest rate you have been quoted and the loan term in years.
- 4
Enter the yearly property tax rate and annual home insurance, or set them to 0 if they are not paid with your mortgage.
- 5
Compare the total monthly payment and total interest, then try a shorter term or bigger deposit.
Best use cases
Check what a home at a given price will really cost each month once property tax and insurance are added.
Compare a 15-year and a 30-year term to see how much total interest the shorter loan saves.
Test how a larger down payment changes the loan amount and the monthly payment.
Sanity-check a lender's quoted payment before you sign the loan estimate.
Mortgage Calculator FAQs
What is the difference between a repayment and an interest-only mortgage?
With a repayment mortgage, each monthly payment covers interest and part of the capital, so the loan is cleared by the end of the term. With interest-only, you pay just the interest and still owe the full loan at the end, so you need a separate plan to repay it.
What happens when my fixed-rate deal ends?
Your mortgage normally moves to the lender's standard variable rate, which is usually higher. Many borrowers remortgage or take a product transfer a few months before the deal ends to avoid the higher rate.
Is Stamp Duty included in this calculation?
No. Stamp Duty Land Tax, LBTT or LTT depends on where the property is and on your circumstances, and it is paid upfront rather than through the monthly repayment. Check the relevant government calculator before you budget.
Why does this calculator ask for property tax?
The same tool serves several countries. In the UK, council tax is billed by your local council rather than your lender, so set the property tax field to 0 for an accurate mortgage repayment.
Which currency does this mortgage calculator use?
Amounts are shown in British Pounds (GBP). The formulas are the same everywhere, so you can switch to another country version if you need a different currency.
Related Finance Tools
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