How to use this tool
- Choose your currency and enter the amount you plan to borrow.
- Type the yearly interest rate your lender quoted and the length of the loan in years.
- Your monthly payment shows at once, with the total interest and a year-by-year schedule below.
Fixed deals and remortgaging
Most UK borrowers take a 2, 3 or 5-year fixed rate and remortgage when it ends to avoid the higher standard variable rate. Re-run the calculation with the new rate to see how your payment will change.
Interest-only
This calculator is for repayment mortgages, where each payment clears some of the loan. On an interest-only mortgage the monthly cost is just the loan × rate ÷ 12, and the full amount is still owed at the end.
Frequently asked questions
How much is a £200,000 mortgage per month?
About £1,112 at 4.5% over 25 years. Change the numbers above for your deal.
Does this include fees?
No. Arrangement fees and insurance are extra.
What is a typical UK mortgage term?
25 years is the traditional term; 30 to 35 years is increasingly common.
Need more detail? See the full Loan & Mortgage Calculator guide.
Sources and references
- Consumer Financial Protection Bureau: What is amortization?
- Reserve Bank of India: Fair Practices Code on EMI loans
- MoneyHelper (UK): Mortgage calculator guidance