Mortgage calculator
Mortgage repayment calculator
Capital-and-interest repayments on any loan amount, rate and term, with the total interest you would pay over the full term and how the balance falls year by year.
Monthly repayment
£4,169
Total interest
£500,623
Total repaid
£1,250,623
| Year | Interest paid | Capital repaid | Balance |
|---|---|---|---|
| 1 | £33,410 | £16,615 | £733,385 |
| 5 | £30,140 | £19,885 | £658,934 |
| 10 | £25,133 | £24,892 | £544,939 |
| 15 | £18,865 | £31,159 | £402,239 |
| 20 | £11,020 | £39,005 | £223,609 |
| 25 | £1,198 | £48,827 | £0 |
Indicative only. This is not financial advice, a mortgage offer or a tax computation. Confirm the figures with a qualified broker, solicitor or tax adviser before you commit.
Questions we get asked
- How is the monthly repayment worked out?
- With the standard annuity formula: M = P·r(1+r)^n ÷ ((1+r)^n − 1), where P is the amount borrowed, r the monthly interest rate and n the number of monthly payments. Every payment covers the interest accrued that month first, and the remainder reduces the balance.
- Why does a longer term cost so much more?
- Stretching a loan from 25 to 35 years lowers the monthly figure but adds ten more years of interest on a balance that falls slowly at the start. The amortisation summary below shows how little capital comes off in the early years.
- Does this include fees, insurance or ground rent?
- No. It is the capital-and-interest repayment only. Arrangement fees, buildings insurance, service charge and ground rent on a leasehold flat all sit on top and matter a great deal in London.
- What rate should I assume?
- Use the rate you have actually been quoted for the fixed period, then re-run the calculator at two or three percentage points higher to see what a remortgage could look like when the fix ends.