Mortgage repayment calculator

Enter the loan, rate and term to see the monthly payment on a capital-and-interest mortgage, how it splits between interest and the loan, and what it costs in total. Or start from what you can afford each month.

How it's calculated

It uses the standard repayment (annuity) formula: the same monthly payment each month, covering that month's interest and repaying part of the balance, so the loan is cleared by the end of the term.

Monthly payment = loan × i ÷ (1 − (1 + i)⁻ⁿ), where i is the annual rate ÷ 12 and n is the number of monthly payments. Interest each month is the balance × i; the rest of the payment reduces the balance.

It assumes one rate for the whole term. Real mortgages usually move to a different rate when an initial deal ends after two, three or five years, and product fees aren't included. To compare deals when yours ends, use the remortgage vs product transfer calculator.

Monthly payments at common loan sizes (25-year term)

Loan	3.5%	4.0%	4.5%	5.0%	5.5%
£100,000	£501	£528	£556	£585	£614
£150,000	£751	£792	£834	£877	£921
£200,000	£1,001	£1,056	£1,112	£1,169	£1,228
£250,000	£1,252	£1,320	£1,390	£1,461	£1,535
£300,000	£1,502	£1,584	£1,667	£1,754	£1,842
£400,000	£2,002	£2,111	£2,223	£2,338	£2,456

A £200,000 mortgage at 4.5% over 25 years costs £1,112 a month. At 5.5% it's £1,228, and at 6.5% £1,350: each percentage point adds roughly £115–£125 a month on that loan.

Where the money goes: £200,000 at 4.5% over 25 years

After	Interest paid so far	Loan repaid so far	Still owed
1 year	£8,909	£4,431	£195,569
5 years	£42,416	£24,284	£175,716
10 years	£78,717	£54,683	£145,317
15 years	£107,363	£92,736	£107,264
20 years	£126,429	£140,371	£59,629

In the first year two-thirds of every payment is interest. The balance falls slowly at first and faster later, because each month's interest is charged on a smaller balance. That's why overpaying early saves the most.

How the term changes the payment: £200,000 at 4.5%

Term	Monthly payment	Total interest
20 years	£1,265	£103,672
25 years	£1,112	£133,499
30 years	£1,013	£164,813
35 years	£947	£197,536

Stretching from 25 to 35 years cuts the payment by £165 a month but adds about £64,000 of interest. Lenders also test affordability on the term you choose, so a longer term can raise how much you can borrow; see how much can I borrow.

Common questions

How much is a £200,000 mortgage per month?

£1,112 at 4.5% over 25 years, £1,013 over 30 years. The table above gives other loan sizes and rates.

How much mortgage can I get for £500 a month?

At 4.5% over 25 years, £500 a month repays about £90,000; over 35 years, about £105,000. £1,000 a month covers about £180,000 and £1,500 about £270,000. Enter your own budget above. Whether a lender will lend that much also depends on your income and outgoings.

What should my maximum mortgage payment be?

There's no single rule. Lenders work from your income after tax and committed spending, and must check you could still pay if rates rose (FCA Handbook, MCOB 11.6). A useful check is the "+2 points" row above: if that payment would stretch you, the loan is probably too large.

Is a repayment mortgage better than interest-only?

It costs more each month but clears the debt. Compare the two with the interest-only calculator.

Does the payment include insurance or fees?

No. Buildings insurance, life cover, product fees and stamp duty are separate. Stamp duty is in the stamp duty calculator.

Checked 15 October 2026.

Other calculators

Estimates only, not advice. These calculators do arithmetic on the numbers you enter. They don't check your credit file, apply a lender's affordability rules or know which products you qualify for. Nothing you type is stored or sent anywhere. For a figure you can act on, speak to an FCA-authorised mortgage adviser.