UK Mortgage Calculator
Repayment or interest-only mortgage payments in pounds, with Stamp Duty Land Tax as its own line, your lender LTV band, and the cash needed on completion day.
UK Mortgage Calculator: with the default inputs, monthly payment (£) is 1,696.1.
Your cash contribution. 15% here — lenders price in steps at 60, 75, 80, 85, 90 and 95% LTV.
The initial product rate. Fixed deals typically last 2 or 5 years, then revert to the lender's SVR.
25 years is the UK norm; 30 and 35-year terms are increasingly common.
Interest-only leaves the whole loan outstanding at the end — you need a separate plan to repay it.
Stamp Duty Land Tax applies to England and Northern Ireland. Scotland and Wales charge different taxes.
Capital and interest, or interest alone if you chose interest-only.
- Amount borrowed (£)
- 297,500
- Loan to value
- 85%Loan ÷ property price. The single biggest driver of the rate you are offered.
- Lender LTV band
- 85% LTV or belowThe product tier this deposit puts you in.
- Extra deposit for the next band (£)
- 17,500Cash needed to drop into the cheaper tier below.
- Stamp duty (SDLT) (£)
- 7,500England & Northern Ireland. Payable within 14 days of completion and not addable to the mortgage.
- Cash needed on completion (£)
- 62,999Deposit + stamp duty + fees.
- Total interest over the term (£)
- 211,330
- Total repaid over the term (£)
- 508,830
- Still owed at the end (£)
- 0Zero on a repayment mortgage; the whole loan on interest-only.
Assumptions
- All figures in pounds sterling. Stamp duty is Stamp Duty Land Tax for England and Northern Ireland at the rates in force from 1 April 2025, verified against gov.uk on 9 September 2026; Scotland (LBTT) and Wales (LTT) are different taxes.
- Interest compounds monthly at the annual rate ÷ 12. UK lenders normally calculate interest daily, which shifts the payment by a few pounds.
- The rate you enter applies for the whole term. Real fixed deals last 2–5 years and then revert to the lender's standard variable rate, so total interest is an illustration, not a forecast.
- The 60/75/80/85/90/95% LTV tiers are the near-universal UK lender convention, not a statutory table, and the comparison table holds your rate constant across them.
- Product and legal fees are treated as cash on completion, not added to the loan. No early repayment charges, no insurance, no ground rent or service charge.
- No affordability or stress test is applied — lenders test your income against a rate well above the product rate.
- Deposit52,50083%
- Stamp duty7,50012%
- Fees2,9995%
| Year | Capital repaid (£) | Interest (£) | Balance (£) |
|---|---|---|---|
| 1 | 6,359 | 13,994 | 291,141 |
| 2 | 6,668 | 13,685 | 284,473 |
| 3 | 6,992 | 13,362 | 277,481 |
| 4 | 7,331 | 13,022 | 270,150 |
| 5 | 7,687 | 12,666 | 262,463 |
| 6 | 8,060 | 12,293 | 254,403 |
| 7 | 8,451 | 11,902 | 245,952 |
| 8 | 8,862 | 11,491 | 237,090 |
| 9 | 9,292 | 11,061 | 227,798 |
| 10 | 9,743 | 10,610 | 218,055 |
| LTV band | Deposit needed (£) | Loan (£) | Payment at your rate (£) |
|---|---|---|---|
| 60% | 140,000 | 210,000 | 1,197.25 |
| 75% | 87,500 | 262,500 | 1,496.56 |
| 80% | 70,000 | 280,000 | 1,596.33 |
| 85% | 52,500 | 297,500 | 1,696.1 |
| 90% | 35,000 | 315,000 | 1,795.87 |
| 95% | 17,500 | 332,500 | 1,895.64 |
Lenders price in steps at these thresholds. The payment column holds your rate constant — in reality the rate falls as you move down the table, so the saving is larger than shown.
How this is worked out
The formula
Monthly repayment = L × r(1 + r)^n ÷ ((1 + r)^n − 1) Monthly interest-only payment = L × r L = property price − deposit r = annual rate ÷ 12 n = term in years × 12 Loan to value = L ÷ property price Stamp duty = Σ over SDLT bands of (portion of the price in the band × band rate) Cash needed on completion = deposit + stamp duty + fees
Open How it’s calculated above to see this worked through with your own numbers.
What you enter
- Property price
- A number.in dollars · 0 or more · defaults to 350000
- Deposit
- Your cash contribution. 15% here — lenders price in steps at 60, 75, 80, 85, 90 and 95% LTV.in dollars · 0 or more · defaults to 52500
- Interest rate
- The initial product rate. Fixed deals typically last 2 or 5 years, then revert to the lender's SVR.a percentage · from 0 to 25 · defaults to 4.75
- Mortgage term
- 25 years is the UK norm; 30 and 35-year terms are increasingly common.from 1 to 40 · whole numbers only · defaults to 25
- Repayment method
- Interest-only leaves the whole loan outstanding at the end — you need a separate plan to repay it.Repayment (capital and interest) · Interest only
- Stamp duty situation
- Stamp Duty Land Tax applies to England and Northern Ireland. Scotland and Wales charge different taxes.Moving home (replacing my main residence) · First-time buyer · Second home or buy-to-let · Remortgaging — no stamp duty
- Product / arrangement fee(under More options)
- Often addable to the loan, but it then accrues interest for the whole term.in dollars · 0 or more · defaults to 999
- Legal, survey and other fees(under More options)
- A number.in dollars · 0 or more · defaults to 2000
- Monthly overpayment(under More options)
- Most fixed deals allow 10% of the balance per year without an early repayment charge.in dollars · 0 or more · defaults to 0
What you get back
- Monthly payment (£)main answer
- Capital and interest, or interest alone if you chose interest-only.
- Amount borrowed (£)
- Loan to value
- Loan ÷ property price. The single biggest driver of the rate you are offered.
- Lender LTV band
- The product tier this deposit puts you in.
- Extra deposit for the next band (£)
- Cash needed to drop into the cheaper tier below.
- Stamp duty (SDLT) (£)
- England & Northern Ireland. Payable within 14 days of completion and not addable to the mortgage.
- Cash needed on completion (£)
- Deposit + stamp duty + fees.
- Total interest over the term (£)
- Total repaid over the term (£)
- Still owed at the end (£)
- Zero on a repayment mortgage; the whole loan on interest-only.
What this assumes
- All figures in pounds sterling. Stamp duty is Stamp Duty Land Tax for England and Northern Ireland at the rates in force from 1 April 2025, verified against gov.uk on 9 September 2026; Scotland (LBTT) and Wales (LTT) are different taxes.
- Interest compounds monthly at the annual rate ÷ 12. UK lenders normally calculate interest daily, which shifts the payment by a few pounds.
- The rate you enter applies for the whole term. Real fixed deals last 2–5 years and then revert to the lender's standard variable rate, so total interest is an illustration, not a forecast.
- The 60/75/80/85/90/95% LTV tiers are the near-universal UK lender convention, not a statutory table, and the comparison table holds your rate constant across them.
- Product and legal fees are treated as cash on completion, not added to the loan. No early repayment charges, no insurance, no ground rent or service charge.
- No affordability or stress test is applied — lenders test your income against a rate well above the product rate.
About this calculator
A UK mortgage quote has three numbers that matter and they interact: the rate, the term, and the loan-to-value band your deposit puts you in. This calculator handles all three, and then adds the two things a bare payment calculator leaves out — Stamp Duty Land Tax as its own line, and the total cash you have to find on completion day.
Repayment or interest-only
A repayment mortgage pays down capital every month and reaches zero at the end of the term. An interest-only mortgage pays the interest and nothing else, so the payment is lower but the entire loan is still outstanding on the last day. Interest-only is now mostly a buy-to-let product; residential lenders will want to see a credible repayment vehicle before offering it. Switch between the two and watch both the monthly payment and the "still owed at the end" line.
Loan to value is the rate
UK lenders publish rate cards that step at 60%, 75%, 80%, 85%, 90% and 95% LTV. These are a market convention rather than a rule, but they are remarkably consistent, and the gap between adjacent tiers is often 0.2 to 0.5 percentage points. If you are at 76% LTV, finding another 1% of the price in deposit moves you into the 75% band and can cut the rate for the whole term. The calculator tells you exactly how much more deposit that takes, and the comparison table shows the deposit and payment at every tier.
Stamp duty is separate cash
Stamp Duty Land Tax cannot be added to the mortgage. It is due within 14 days of completion, in cash, on top of the deposit. This page uses the England and Northern Ireland rates in force from 1 April 2025, with first-time buyer relief and the 5% additional-property surcharge available in the dropdown. If your property is in Scotland or Wales, the stamp duty figure here is the wrong tax entirely — Scotland charges LBTT and Wales charges LTT, both with different thresholds. The mortgage maths is still correct; ignore the duty line and use Revenue Scotland or the Welsh Revenue Authority.
Where this simplifies
The rate you enter is applied for the whole term. Real UK mortgages are almost never like that: a 2- or 5-year fixed deal reverts to the lender's standard variable rate, which is usually several points higher, so most people remortgage. Treat the total-interest figure as "what this rate would cost if it lasted", not a forecast. Lenders also calculate interest daily and apply payments monthly, which makes a difference of a few pounds against the monthly-compounding formula used here. Product fees added to the loan accrue interest for the full term — this calculator treats them as cash on completion instead, which is the cheaper choice and the honest comparison. Affordability is not modelled at all: lenders stress-test your income against a rate several points above the one you are offered.
Frequently asked questions
▸How much can I borrow for a mortgage in the UK?
Most lenders cap lending at 4 to 4.5 times income, and some stretch to 5.5 times for high earners or professionals. The binding constraint is usually the affordability stress test, which checks you could still pay if the rate rose several points above your product rate.
▸What loan-to-value do I need for a good rate?
Rate cards step at 95, 90, 85, 80, 75 and 60% LTV. The biggest single jump is usually getting under 90%, and the cheapest rates sit at 60% and below. Crossing a threshold matters far more than the exact percentage.
▸Is the stamp duty included in my mortgage?
No. Stamp Duty Land Tax must be paid in cash within 14 days of completion and cannot be added to the loan. Budget for it alongside your deposit, legal fees and survey.
▸Should I take a longer mortgage term?
A 35-year term cuts the monthly payment noticeably but can add tens of thousands in interest. If you take one, overpay when you can — most fixed deals allow 10% of the balance a year penalty-free, and the calculator shows what that saves.
▸Does this work for Scotland or Wales?
The mortgage calculation does. The stamp duty figure does not — Scotland charges Land and Buildings Transaction Tax and Wales charges Land Transaction Tax, both with their own bands. Set the stamp duty dropdown to remortgaging to zero it out.
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