Mortgage Repayment Calculator

Last updated: April 2026

Mortgage Details

Property value

Deposit

Deposit percentage

20.00% depositLTV: 80.00%

Mortgage term

yrs

Interest rate

Mortgage Type

Monthly overpayment

Most lenders allow up to 10% of balance per year without penalty. Check your mortgage terms.

I have a fixed rate that reverts to a higher rateCompare your initial fixed payment with the likely payment after the fixed period ends.

Monthly Payment

£1,334.00

Mortgage amount£240,000.00

LTV80.00%

Total repayable£400,200.00

Total interest£160,199.49

LTV Band Indicator

Green: under 75%Amber: 75-90%Red: over 90%

Amortisation Table

YearBalance startInterestCapitalBalance end

1£240,000£10,691£5,317£234,683

2£234,683£10,447£5,561£229,122

3£229,122£10,192£5,816£223,306

4£223,306£9,924£6,084£217,222

5£217,222£9,645£6,363£210,859

6£210,859£9,353£6,655£204,204

7£204,204£9,047£6,961£197,242

8£197,242£8,727£7,281£189,961

9£189,961£8,392£7,616£182,346

10£182,346£8,043£7,965£174,380

11£174,380£7,677£8,331£166,049

12£166,049£7,294£8,714£157,335

13£157,335£6,894£9,114£148,221

14£148,221£6,475£9,533£138,688

15£138,688£6,037£9,971£128,717

16£128,717£5,579£10,429£118,288

17£118,288£5,100£10,908£107,379

18£107,379£4,599£11,409£95,970

19£95,970£4,075£11,933£84,037

20£84,037£3,526£12,482£71,555

21£71,555£2,953£13,055£58,500

22£58,500£2,353£13,655£44,845

23£44,845£1,726£14,282£30,563

24£30,563£1,070£14,938£15,625

25£15,625£383£15,625£0

Cost of delay

Every month you delay buying: at £300,000, a 1% price increase costs £3,000more. Your deposit's purchasing power decreases as property prices rise.

Rate Comparison

RateMonthlyTotal interest

3.50%£1,201.50£120,448.86

4.00%£1,266.81£140,042.58

4.50%£1,334.00£160,199.49

5.00%£1,403.02£180,904.87

5.50%£1,473.81£202,142.78

6.00%£1,546.32£223,897.03

How are mortgage repayments calculated?

Repayment mortgage payments are calculated using standard amortisation. Each monthly payment covers the interest on the outstanding balance plus a portion of the capital. In the early years, most of each payment is interest. Towards the end of the term, most is capital. The result is that your balance reduces to zero at the end of the term.

What is loan-to-value (LTV)?

LTV is the mortgage amount as a percentage of the property value. A £240,000 mortgage on a £300,000 property has an 80% LTV. Lower LTV means a larger deposit and typically unlocks better mortgage rates. Most lenders offer their best rates at 60% LTV or below.

How much can overpaying save?

Overpaying your mortgage even by a small amount can save thousands in interest and reduce your term significantly. On a £240,000 mortgage at 4.5% over 25 years, overpaying £200 per month saves approximately £26,000 in interest and reduces the term by over 5 years. Most lenders allow overpayments of up to 10% of the outstanding balance per year without penalty.

What is an interest-only mortgage?

With an interest-only mortgage, your monthly payment covers only the interest on the loan. You do not repay any capital. At the end of the term, you still owe the full original loan amount. Interest-only mortgages have lower monthly payments but require a credible repayment strategy for the capital, such as savings, investments, or selling the property.