Calculate your monthly payments and visualize your mortgage over time
A mortgage is one of the largest financial commitments you will ever make. Whether you are a first-time buyer trying to understand what you can afford, or a homeowner considering remortgaging, knowing your numbers upfront saves time and prevents nasty surprises down the line. This mortgage calculator gives you an instant view of your monthly repayment, total interest paid, and how your loan balance reduces year by year.
In the UK, most residential mortgages are repayment mortgages, meaning each monthly payment reduces both the interest and the loan balance. The split between interest and capital changes over time — early payments are mostly interest, while later payments chip away more of the principal. This is called amortisation, and our calculator visualises this with a full amortisation schedule so you can see exactly where your money goes each year.
Use this tool to compare different deposit sizes, interest rates, and loan terms. Try increasing your deposit by £10,000 and watch how much less interest you pay overall. Experiment with shorter terms — a 20-year mortgage has higher monthly payments than a 25-year one, but saves a significant amount in total interest. You can also model overpayments to see how even small additional monthly payments can cut years off your mortgage term.
£1,334
£240,000
80%
£60,000
Total Interest Paid
£160,199
Total Money Repaid
£400,199
Explore how overpayments can reduce your mortgage term and save on interest
Payment will be applied in month 1
Add a monthly overpayment or lump sum to see the impact on your mortgage
Starting Balance
£240,000
Mid-term Balance
£152,829
Final Balance
£0