CURRENT POSITION
Healthy monthly margin
Housing costs sit comfortably below half your household income. You have room for life changes and rate movement.
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Estimate your monthly UK mortgage payment, see the full repayment schedule, model overpayments, and stress test against rate rises.
Mortgage payment
£966/mo
LTV 90% · Total repayable £347,860
Repayment mortgage at 5% over 30 years.
Loan to value: You are between 85% and 90% LTV. This can still be workable, but increasing the deposit may improve product choice.
Total repayable: Over the full 30-year term, including £167,860 of interest.
Monthly bills: Council tax, utilities, service charge, and maintenance.
Total monthly cost: Mortgage payment + monthly bills.
Monthly surplus: Between 20% and 50% of income is left after housing costs. This may be workable, but the budget could feel tighter depending on other commitments.
MORTGAGE PAYMENT
Repayment mortgage at 5% over 30 years.
LOAN TO VALUE
90%
You are between 85% and 90% LTV. This can still be workable, but increasing the deposit may improve product choice.
TOTAL REPAYABLE
£347,860
Over the full 30-year term, including £167,860 of interest.
Monthly bills
£450
Council tax, utilities, service charge, and maintenance.
Total monthly cost
£1,416
Mortgage payment + monthly bills.
Monthly surplus
£1,097
Between 20% and 50% of income is left after housing costs. This may be workable, but the budget could feel tighter depending on other commitments.
YOUR NUMBERS
Mortgage type
Pay more than your monthly payment to clear the mortgage faster and pay less interest. Changes here reflect in the chart and table below.
A fixed amount added to every monthly payment.
CURRENT POSITION
Housing costs sit comfortably below half your household income. You have room for life changes and rate movement.
NEXT BEST MOVE
Open Buying costs to plan upfront costs alongside the monthly picture.
Where to go next
See how prepared you are across deposit, surplus, and the binary readiness factors.
Open readiness summaryHow to read these numbers
You are between 85% and 90% LTV. This can still be workable, but increasing the deposit may improve product choice.
Between 20% and 50% of income is left after housing costs. This may be workable, but the budget could feel tighter depending on other commitments.
Borrowing range uses gross annual income because lender affordability often starts from gross. Monthly surplus uses estimated take-home pay after Income Tax and employee National Insurance (England, Wales and Northern Ireland rates; Scotland has different income tax bands). Doesn’t account for pension contributions, student loan repayments, or salary sacrifice arrangements.
Lenders also assess income, credit history, debts, commitments, dependants and wider affordability rules. This is a planning guide, not a mortgage offer.
End-of-year balance assuming your interest rate stays the same.
| Year | Remaining debt |
|---|---|
| 0 | £180,000 |
| 1 | £177,344 |
| 2 | £174,553 |
| 3 | £171,618 |
| 4 | £168,534 |
| 5 | £165,292 |
| 6 | £161,884 |
| 7 | £158,301 |
| 8 | £154,535 |
| 9 | £150,577 |
| 10 | £146,416 |
| 11 | £142,042 |
| 12 | £137,444 |
| 13 | £132,611 |
| 14 | £127,531 |
| 15 | £122,191 |
| 16 | £116,578 |
| 17 | £110,677 |
| 18 | £104,475 |
| 19 | £97,955 |
| 20 | £91,102 |
| 21 | £83,898 |
| 22 | £76,326 |
| 23 | £68,366 |
| 24 | £59,999 |
| 25 | £51,204 |
| 26 | £41,959 |
| 27 | £32,241 |
| 28 | £22,025 |
| 29 | £11,287 |
| 30 | £0 |
| Year | Remaining debt |
|---|---|
| 0 | £180,000 |
| 1 | £177,344 |
| 2 | £174,553 |
| 3 | £171,618 |
| 4 | £168,534 |
| 5 | £165,292 |
| 6 | £161,884 |
| 7 | £158,301 |
| 8 | £154,535 |
| 9 | £150,577 |
| 10 | £146,416 |
| 11 | £142,042 |
| 12 | £137,444 |
| 13 | £132,611 |
| 14 | £127,531 |
| 15 | £122,191 |
| 16 | £116,578 |
| 17 | £110,677 |
| 18 | £104,475 |
| 19 | £97,955 |
| 20 | £91,102 |
| 21 | £83,898 |
| 22 | £76,326 |
| 23 | £68,366 |
| 24 | £59,999 |
| 25 | £51,204 |
| 26 | £41,959 |
| 27 | £32,241 |
| 28 | £22,025 |
| 29 | £11,287 |
| 30 | £0 |
Owning a home costs more than the mortgage payment alone. This calculator gives a fuller picture of monthly housing costs, but it doesn’t cover every cost of buying or living in a home.
Includes
Does not include
Four levers move your monthly mortgage payment up or down. Adjusting any one of them changes the result.
A higher rate means more interest each month. Even a 1% difference can shift the payment meaningfully on a typical first-time buyer mortgage.
A longer term spreads the loan over more months, lowering each payment but increasing total interest paid over the life of the mortgage.
A bigger deposit lowers the loan amount and the loan-to-value ratio. Lower LTV often unlocks better interest rates.
Repayment mortgages clear the loan over the term; interest-only payments are lower but don’t reduce the loan itself, so you’d still need a repayment plan at the end.
There’s no single right answer, but the percentage of your household income left over after housing is a useful guide:
These are rough guides, not financial advice. Your situation may allow a different balance.
Want the full picture?
The mortgage calculator above models payment for a price you choose. The Affordability check answers the other half: how much a UK lender will actually lend you based on income, deposit, and outgoings — including the standard lender stress test.
Tie this check to your full plan
The Buyer Planner connects Affordability Stress Test, Document Readiness, and Conveyancing Dashboard — turning this snapshot into a tracked plan you can return to.
A focused mortgage repayment calculator for UK first-time buyers. Enter the loan, rate, and term to estimate the monthly payment. Add overpayments to see how they cut total interest. Toggle the stress test to preview what happens if rates rise.
This is the mortgage payment calculator. For how much you can actually borrow from a UK lender (based on income, deposit and outgoings, with the lender stress test built in), use the Affordability check. For stamp duty, use the Stamp duty calculator. For the full one-off and monthly costs of buying, use the buying costs planner. To see all of these for one house you have in mind, use Can I afford this house?.
The most-asked questions UK first-time buyers ask about mortgage payment calculations.
On a repayment mortgage, your monthly payment covers both interest and capital so the loan reduces to zero by the end of the term. The formula compounds the rate monthly over the term. On an interest-only mortgage you only pay the interest each month — the capital remains owed until the end of the term. Most UK residential mortgages are repayment; interest-only is more common in buy-to-let.
Repayment pays off both interest and capital, so by the end of the term the loan is gone. Interest-only pays only the interest each month — the original loan remains outstanding at the end of the term, and you need a separate plan to repay it (sale of the property, savings, investments). Residential first-time buyer mortgages are almost always repayment; interest-only is more typical for buy-to-let or specialist circumstances.
When you apply for a UK mortgage, lenders check you can afford the payments not just at today's rate but at a notionally higher 'stressed' rate (commonly your offered rate plus 1-3 percentage points). The Bank of England requires this. This calculator's stress test lets you preview what your payment would look like if rates rose, so you know what you'd actually be signing up for if rates moved.
Mortgage rates vary with the Bank of England base rate, your loan-to-value (LTV), and your credit profile. Higher deposits (60% or 75% LTV) usually get better rates than 90% or 95% LTV. Two-year fixes tend to be lower than five-year fixes when rates are expected to fall, and the opposite when rates are expected to rise. Compare rates across lenders — a 0.25% difference compounds substantially over a 25-30 year term.
Overpayments come off the capital balance, so future months calculate interest on a smaller principal. Even small regular overpayments save thousands over a 25-30 year term. Most UK lenders let you overpay 10% of the balance each year without early-repayment charges; check your specific deal's terms.
Lower LTV (bigger deposit relative to property price) gets you better rates and more lender options. The standard LTV bands are 60%, 75%, 80%, 85%, 90% and 95%. Each step up in deposit (so each step DOWN in LTV) tends to unlock cheaper rates. Below 60% LTV the rate improvements flatten — at that point a bigger deposit is more about reducing borrowing than reducing rate.
Longer terms reduce the monthly payment but increase total interest over the life of the loan. 25 years was the historic default; 30 and 35-year terms have become more common as house-price-to-income ratios have risen. Pick a term where the monthly payment leaves you comfortable headroom for life events. You can usually overpay or remortgage onto a shorter term later if your income grows.
No — this is the mortgage repayment calculator. For stamp duty (SDLT) estimates use the dedicated UK stamp duty calculator. For one-off costs (solicitor fees, surveys, Land Registry, moving) use the buying costs planner.
No. This is an estimator to help you plan and compare scenarios. An actual mortgage offer comes from a lender after a full affordability check, credit check, and property valuation.