CURRENT POSITION
Strong affordability
Plenty of monthly room — you could absorb meaningful rate rises or life changes without strain.
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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
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
£434,826
Over the full 30-year term, including £209,826 of interest.
Monthly bills
£450
Council tax, utilities, service charge, and maintenance.
Total monthly cost
£1,658
Mortgage payment + monthly bills.
Monthly surplus
£2,429
More than 50% of income is left after housing costs. That usually suggests a healthier monthly buffer.
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
Plenty of monthly room — you could absorb meaningful rate rises or life changes without strain.
NEXT BEST MOVE
Move-in Budget tab covers stamp duty, fees, and the buffer you'll want on completion day.
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.
More than 50% of income is left after housing costs. That usually suggests a healthier monthly buffer.
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 | £225,000 |
| 1 | £221,680 |
| 2 | £218,191 |
| 3 | £214,523 |
| 4 | £210,667 |
| 5 | £206,615 |
| 6 | £202,354 |
| 7 | £197,876 |
| 8 | £193,169 |
| 9 | £188,221 |
| 10 | £183,020 |
| 11 | £177,552 |
| 12 | £171,805 |
| 13 | £165,764 |
| 14 | £159,414 |
| 15 | £152,739 |
| 16 | £145,722 |
| 17 | £138,347 |
| 18 | £130,594 |
| 19 | £122,444 |
| 20 | £113,878 |
| 21 | £104,873 |
| 22 | £95,407 |
| 23 | £85,458 |
| 24 | £74,999 |
| 25 | £64,005 |
| 26 | £52,448 |
| 27 | £40,301 |
| 28 | £27,532 |
| 29 | £14,109 |
| 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.
Quick answers to the questions most first-time buyers have when estimating monthly mortgage costs.
Lenders typically offer 4–4.5× combined income, less any fixed monthly commitments. The borrowing range shown here uses both incomes if you enter them. Stress tests, deposit size, and credit history can push the actual figure up or down.
Lenders affordability-test against gross income before tax. Take-home pay still matters for monthly surplus, but the headline “how much can I borrow” figure is gross-driven.
Surplus is what’s left in your bank account after housing — so it has to be calculated from take-home (net) pay, not gross. We deduct Income Tax + National Insurance using current England/Wales/NI bands.
Loan to value (LTV) is the loan amount as a percentage of the property price. £200,000 borrowed on a £250,000 property is 80% LTV. Lower LTV usually unlocks better interest rates.
On a repayment mortgage, your monthly payment is based on the loan amount, the interest rate, and the term length. Each payment covers some interest and some of the loan itself, so the balance reduces over time. Switching to interest-only uses a simpler interest × balance calculation — typical for BTL and short-hold flips.
Use a rate close to what’s currently being offered for the loan-to-value you’re aiming at. Compare a few lender rates or speak to a mortgage broker. Trying a slightly higher rate as well shows how sensitive your figures are to rate changes.
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.
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.
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.